Medical technology company Hologic (NASDAQ:HOLX) will be reporting earnings this Wednesday afternoon. Here’s what investors should know.
Hologic met analysts’ revenue expectations last quarter, reporting revenues of $1.01 billion, down 1.2% year on year. It was a slower quarter for the company, with a slight miss of analysts’ full-year EPS guidance estimates and full-year revenue guidance meeting analysts’ expectations.
Is Hologic a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Hologic’s revenue to be flat year on year at $1.01 billion, slowing from the 2.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.05 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hologic has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.9% on average.
Looking at Hologic’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 22.8%, beating analysts’ expectations by 3.4%, and Intuitive Surgical reported revenues up 21.4%, topping estimates by 3.7%. Boston Scientific traded up 2.9% following the results while Intuitive Surgical was down 1.9%.
Read our full analysis of Boston Scientific’s results here and Intuitive Surgical’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Hologic is up 2.8% during the same time and is heading into earnings with an average analyst price target of $69.93 (compared to the current share price of $66.99).
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