Hologic’s Upcoming Q4 Earnings Expected to Show Growth
Hologic, Inc. (HOLX), based in Marlborough, Massachusetts, focuses on women’s health through its offerings in diagnostics, imaging systems, and surgical products. With a market cap of $18.9 billion, the company operates in four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health, targeting early detection and treatment of conditions like cancer, infectious diseases, and reproductive health. Analysts anticipate that Hologic will release its Q4 earnings after the market closes on Monday, Nov. 4.
Analysts Predict Stronger Earnings
Analysts forecast that HOLX will report a profit of $1.02 per share, marking a 14.6% increase from $0.89 per share in the same quarter last year. The company has consistently exceeded consensus estimates over the past four quarters, with a 3.9% margin above expectations in the last quarter.
Future Expectations for Earnings Growth
For fiscal 2024, projections are for Hologic to achieve an EPS of $4.09, a 3.3% rise from $3.96 in fiscal 2023. Additionally, EPS is projected to grow by 6.6% year-over-year to reach $4.36 in fiscal 2025.
Performance Compared to Market Indexes
HOLX stock has risen 24.9% over the past year, although this is below the S&P 500 Index’s ($SPX) 41.6% gains. However, it has outperformed the Health Care Select Sector SPDR Fund’s (XLV) 20.9% increase in the same timeframe.
Market Reactions Following Recent Earnings
After the Q3 earnings release on July 29, shares of Hologic climbed 3.6%. This increase followed stronger quarterly results, driven by greater demand in key segments. The company reported adjusted EPS of $1.06 along with a revenue increase. Noteworthy growth occurred in the Breast Health and GYN Surgical segments, with revenues rising by 6.9% and 5.9%, respectively. Positive adjustments to its fiscal 2024 revenue and EPS forecasts also helped to boost investor confidence.
Analysts’ Ratings on Hologic Stock
The overall consensus on Hologic stock is cautiously positive, with a “Moderate Buy” rating. Among the 15 analysts covering the stock, six recommend a “Strong Buy,” two suggest a “Moderate Buy,” and seven indicate a “Hold” rating. As of this writing, HOLX is trading below the average target price of $89.33.
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On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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