Hologic Inc Stock Price, News & Analysis

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.

Hologic, Inc. (HOLX) reported its fiscal Q2 results, with revenues soaring 103.4% to $1.54 billion and EPS surging 561.1% to $2.38. This growth was fueled by a 390.6% increase in molecular diagnostics revenue, reaching $935.3 million, driven by strong demand for COVID-19 testing. The company completed acquisitions worth over $1 billion, aiming to enhance post-pandemic growth. Operating margin expanded to 51.8%, while cash flow from operations was $552.3 million. Despite strong results, future COVID testing revenue may be conservative, impacting Q3 guidance.

Hologic (HOLX) has entered into a definitive agreement to acquire Mobidiag Oy for an enterprise value of approximately $795 million. This transaction includes a cash payment of roughly $714 million and net debt of about $81 million. The acquisition aims to enhance Hologic's diagnostics business by expanding into acute care with Mobidiag's innovative molecular diagnostic tests, which target infections and antimicrobial resistance. Mobidiag generated around $42 million in revenue in 2020. The acquisition is expected to be slightly dilutive to Hologic's earnings in the first two years but accretive thereafter.

Hologic, Inc. (Nasdaq: HOLX) will announce its Q2 fiscal 2021 financial results on April 28 after market close. A conference call hosted by management will take place at 4:30 p.m. ET the same day. Interested listeners can join the call by dialing the provided numbers or by clicking a link. A replay will be available until May 21. Hologic focuses on enhancing women's health through early detection and treatment technologies.

Hologic, a leader in women's health, announced a collaboration with Gallup to create the Hologic Global Women’s Health Index, the most extensive assessment of women’s health globally. This survey will encompass over 120,000 responses across 116 countries and will track vital metrics related to women’s health, including reproductive health and access to care. The project aims to address healthcare disparities exacerbated by the COVID-19 pandemic and will provide insights for policy improvement. The index is set to be published later this year.

Hologic, Inc. (Nasdaq: HOLX) has acquired Diagenode, a European developer of molecular diagnostic assays, for approximately $159 million. This acquisition aims to enhance Hologic's molecular diagnostics capabilities, speeding up international market entry and expanding their test menu. Diagenode brings over 30 real-time PCR tests for various infections and significant expertise in epigenetics. The acquisition is expected to be break-even to Hologic's non-GAAP earnings per share through fiscal 2022, with potential for future accretion.

Hologic, Inc. (NASDAQ: HOLX) has successfully completed its acquisition of Biotheranostics, a leader in molecular oncology, for approximately $230 million. Biotheranostics specializes in molecular diagnostic tests such as the Breast Cancer Index and CancerTYPE ID, which aid in predicting treatment benefits and optimizing therapy for patients with uncertain cancers. Following the acquisition, Hologic aims to grow in the expanding oncology market, leveraging the National Comprehensive Cancer Network's recent endorsement of Breast Cancer Index as a key predictive tool for hormone-receptor positive breast cancer.