Hologic Inc Stock Price, News & Analysis

Hologic, Inc. (Nasdaq: HOLX) announced that Anthem Blue Cross Blue Shield will now cover Radiofrequency Ablation (LAP-RFA), including the Acessa® procedure, for treating uterine fibroids. This coverage impacts approximately 40 million Anthem members across the U.S., providing a minimally invasive option that preserves the uterus. Currently, around 11 million women in the U.S. are diagnosed with uterine fibroids. The Acessa procedure is recognized as a safe alternative to hysterectomy, allowing women to recover quickly and maintain their quality of life.

Hologic reported strong financial results for Q3 fiscal 2021, with revenues of $1.17 billion, up 42% year-over-year. Organic revenue increased 38.4%, driven by robust growth in Breast Health and GYN Surgical divisions, and diagnostics revenue reached $665.5 million, reflecting a 25% increase. Despite lower COVID assay demand, the company completed the Mobidiag acquisition. Cash flow from operations was $662.9 million. However, guidance for Q4 2021 indicates a revenue decline of 25.8% to 22.8%, primarily due to falling COVID testing revenues.

Hologic, Inc. (Nasdaq: HOLX) applauds the CDC's new guidelines endorsing opt-out screening for chlamydia and gonorrhea among adolescent and young adult women. This approach is expected to enhance screening rates, thereby reducing the burden of undiagnosed STIs, especially as rates are surging post-COVID-19. The CDC notes that nearly 26 million new STI cases occur yearly, with young individuals aged 15-24 being significantly affected. Hologic's testing products, including the Aptima Combo 2 Assay, are positioned to benefit from this guideline shift, aiding in early detection and treatment.

Hologic, Inc. (Nasdaq: HOLX) will release its third-quarter fiscal 2021 financial results on July 28 after market close. The management will host a conference call that same day at 4:30 p.m. Eastern Time to discuss the results. Interested parties can participate by dialing 888-204-4368 for US callers or +1 323-994-2093 for international calls, using access code 5101679. A replay will be available after the call, and the event will also be webcast live on the Company’s website.

Hologic, Inc. (Nasdaq: HOLX) has finalized its acquisition of Mobidiag Oy for approximately $808 million. This move is expected to enhance Hologic's position as a global diagnostics leader by accelerating the development and adoption of Mobidiag's innovative near-patient molecular diagnostic products. Mobidiag specializes in rapid testing for gastrointestinal, respiratory infections, and antimicrobial resistance, with results delivered within 50 minutes to two hours. The acquisition is anticipated to drive growth and expand Hologic's diagnostic capabilities globally.

Hologic, Inc. (Nasdaq: HOLX) announced that Cigna has updated its medical policy to cover the Acessa® Laparoscopic Radiofrequency Ablation (Lap-RFA) as medically necessary. In under eight months, 18 million additional people have gained insurance coverage for the Acessa procedure, totaling over 75 million commercially insured individuals. This decision is expected to enhance access to minimally invasive fibroid treatments for women, allowing for less recovery time compared to traditional surgeries. The Acessa procedure offers significant symptom improvement while preserving the uterus.

Hologic, Inc. (Nasdaq: HOLX) announced that the American College of Obstetricians and Gynecologists (ACOG) has updated its guidance to support laparoscopic radiofrequency ablation (Lap-RFA) for the treatment of uterine fibroids. This endorsement highlights Hologic's Acessa® procedure as a minimally invasive and uterine-sparing option. ACOG's guidance aims to improve access to this treatment while acknowledging the limitations regarding access to RFA technology. The Acessa procedure offers a three-step treatment approach that provides effective management for women with symptomatic leiomyomas.

Hologic, Inc. (Nasdaq: HOLX) announced that its subsidiary, Biotheranostics, Inc., has received expanded Medicare coverage for its Breast Cancer Index™ test. This new coverage is applicable for post-menopausal women with early-stage, node-positive, ER/PR positive, HER2 negative breast cancer, increasing testing eligibility by approximately 25,000 women annually. The Breast Cancer Index test aids in personalizing endocrine therapy, offering vital insights that improve treatment decisions for patients facing potential side effects from extended therapy. The expansion is seen as a significant step towards establishing the test as standard care.

Hologic, Inc. (Nasdaq: HOLX) will present at three virtual investor conferences in May and June 2021. The events include the BofA Securities Healthcare Conference on May 12 at 3:30 p.m. ET, the Goldman Sachs Credit and Leveraged Finance Conference on May 17 at 3:30 p.m. ET, and William Blair’s Growth Stock Conference on June 2 at 11:00 a.m. ET. Each presentation will be webcast live and accessible via the investors section on Hologic’s website for 30 days post-event.

Hologic focuses on enhancing women’s health through early detection and treatment.