Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Hologic (NASDAQ:HOLX) released its quarterly earnings data on Thursday. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.05), FiscalAI reports. Hologic had a return on equity of 20.13% and a net margin of 13.80%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion.

Hologic Trading Down 0.2%

NASDAQ HOLX traded down $0.12 during trading on Thursday, reaching $74.98. 4,116,043 shares of the stock traded hands, compared to its average volume of 2,393,980. The stock’s 50-day moving average price is $74.86 and its 200 day moving average price is $70.75. The company has a quick ratio of 3.06, a current ratio of 3.75 and a debt-to-equity ratio of 0.50. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69. Hologic has a fifty-two week low of $51.90 and a fifty-two week high of $75.36.

Analyst Ratings Changes

HOLX has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $78.00 price objective on shares of Hologic in a research note on Wednesday, October 22nd. Evercore ISI cut shares of Hologic from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $79.00 to $78.00 in a research report on Monday, January 5th. BTIG Research reissued a “neutral” rating on shares of Hologic in a report on Tuesday, October 21st. Raymond James Financial lowered Hologic from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Mizuho downgraded Hologic from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $70.00 to $78.00 in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Hologic presently has a consensus rating of “Hold” and a consensus target price of $79.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Balyasny Asset Management L.P. raised its position in shares of Hologic by 1,060.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,218,352 shares of the medical equipment provider’s stock worth $82,227,000 after purchasing an additional 1,113,330 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Hologic during the second quarter worth $48,283,000. Freestone Grove Partners LP acquired a new stake in shares of Hologic during the third quarter worth $46,800,000. Holocene Advisors LP acquired a new position in Hologic in the 2nd quarter worth $24,438,000. Finally, Raymond James Financial Inc. increased its holdings in Hologic by 52.9% during the 2nd quarter. Raymond James Financial Inc. now owns 567,695 shares of the medical equipment provider’s stock worth $36,991,000 after purchasing an additional 196,507 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

About Hologic

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.