Hologic Inc. Reports Strong Q3 Profit, But Misses on Revenue Forecast

Hologic Inc Financial Earnings 

Hologic Inc, a leading medical technology company, announced a robust third-quarter profit on Monday, bolstered by strong demand for its diagnostics and breast health products. The company’s financial results showcased its resilience in a competitive healthcare market, but concerns arose as it forecast fourth-quarter revenue that did not meet Wall Street’s expectations.

For the third quarter, Hologic reported adjusted earnings of $1.06 per share, surpassing analysts’ estimates of $1.02 per share. The strong performance was driven by the company’s diagnostics segment, which recorded sales of $440.8 million, exceeding expectations of $430.3 million. This segment’s success reflects Hologic’s commitment to innovation and its ability to adapt to the evolving needs of healthcare providers and patients.

Despite the positive earnings report, Hologic’s forecast for the upcoming quarter raised eyebrows among investors. The company projected fourth-quarter revenue between $970 million and $985 million, falling short of analysts’ expectations of approximately $1 billion. This discrepancy has led to questions about the company’s growth trajectory and market positioning going forward.

In addition to the fourth-quarter forecast, Hologic marginally raised the lower end of its fiscal year 2024 adjusted profit per share and revenue guidance, signaling cautious optimism about its future performance. However, the company’s inability to meet revenue expectations for the current quarter may temper investor enthusiasm.

Stock Forecast & Analysis

Based on the Hologic Inc stock forecast from 6 analysts, the average target price for Hologic Inc is USD 87.45 over the next 12 months. The consensus among these analysts is a Strong Buy rating for the stock.

Stock Target Advisor’s own analysis of Hologic Inc is Slightly Bullish. This assessment is derived from 8 positive signals and 5 negative signals.

At the last closing, Hologic Inc’s stock price was USD 79.64. The stock has shown some positive momentum recently, with a +1.61% change over the past week and a +7.26% change over the past month. However, looking at a longer time frame, the stock price has decreased by -1.30% over the last year. This mixed performance highlights both the short-term gains and the challenges the company has faced over the past year.