Hologic (NASDAQ:HOLX) Announces Quarterly Earnings Results, Meets Expectations

Hologic (NASDAQ:HOLX - Get Free Report) posted its earnings results on Monday. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01, Briefing.com reports. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. During the same period in the previous year, the firm earned $0.89 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis.

Hologic Price Performance

HOLX traded down $4.92 during trading on Tuesday, reaching $78.80. The company's stock had a trading volume of 3,451,355 shares, compared to its average volume of 1,591,221. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.98 and a beta of 0.98. The firm has a fifty day simple moving average of $81.06 and a two-hundred day simple moving average of $78.08. Hologic has a 1 year low of $66.93 and a 1 year high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HOLX shares. UBS Group upped their price objective on shares of Hologic from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday. Mizuho lowered their price target on Hologic from $90.00 to $87.00 and set an "outperform" rating on the stock in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Hologic in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on Hologic from $92.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, StockNews.com lowered shares of Hologic from a "strong-buy" rating to a "buy" rating in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Hologic currently has an average rating of "Moderate Buy" and an average target price of $89.25.

About Hologic

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.