Hologic Inc Stock Price, News & Analysis

AMETEK announced the appointment of Karleen Oberton to its Board of Directors, effective February 11, 2021. Oberton currently serves as CFO of Hologic and has over 30 years of experience in public accounting, biotechnology, and medical device manufacturing. Her expertise in finance and executive leadership is expected to enhance AMETEK's board dynamics. The company reported 2020 sales exceeding $4.5 billion and aims for double-digit growth in earnings per share over the business cycle.

Hologic, Inc. (Nasdaq: HOLX) will present at several upcoming virtual investor conferences, highlighting its commitment to women's health technology. Key events include:

• BTIG Virtual MedTech Conference on February 17 at 10:30 a.m. ET
• Citi’s Healthcare Services Conference on February 24 at 11:40 a.m. ET
• SVB Leerink’s Global Healthcare Conference on February 25 at 1:00 p.m. ET
• Raymond James Institutional Investors Conference on March 1 at 1:20 p.m. ET

All presentations will be webcast live and accessible on Hologic's investor website.

Hologic, Inc. (HOLX) has entered into a multi-year strategic collaboration with Google Cloud to integrate machine learning technologies with its Genius™ Digital Diagnostics System. This partnership aims to enhance cervical cancer screening by using AI for improved identification of pre-cancerous lesions and cancer cells. Hologic's President emphasized this as a natural progression in their 30-year commitment to cervical cancer screening. While the Genius system is CE-marked for the European market, it is not yet available in the U.S. Financial terms of the collaboration were not disclosed.

Hologic reported an impressive financial performance for the fiscal Q1 ended December 26, 2020, with revenues soaring by 89.3% to $1.61 billion. The growth was driven by a 457.6% surge in molecular diagnostics revenue, fueled by demand for SARS-CoV-2 tests. The company also announced acquisitions of Biotheranostics and SOMATEX, with cash flow from operations at $650 million. Although net income rose to $654.4 million, net margins declined by 480 bps. Hologic expects continued strong performance for Q2 with guidance of $1.50 - $1.56 billion in revenue.

Hologic, Inc. (Nasdaq: HOLX) will announce its financial results for Q1 of fiscal 2021 on January 27, after market close. A conference call is set for 4:30 p.m. ET, accessible at 888-204-4368 (U.S.) or +1 323-994-2093 (international). Participants are encouraged to join 5-10 minutes early. The call will also be available via webcast on Hologic's investor website and archived for 30 days.

Hologic is dedicated to advancing women's health through innovative medical technologies.

Hologic, Inc. (Nasdaq: HOLX) announced preliminary revenue results for Q1 fiscal 2021, expecting revenues of approximately $1,609.8 million, up 89.3% year-over-year. This exceeds prior guidance of $1,350-$1,425 million. Diagnostics revenue surged 262.2% to $1,128.2 million, fueled by nearly 30 million COVID-19 tests. The company will report full results on January 27, 2021, and announced a $1 billion share repurchase plan while paying off $250 million of debt.

Hologic, Inc. (Nasdaq: HOLX) has announced its acquisition of Biotheranostics, Inc. for approximately $230 million. This strategic move aims to enhance Hologic's position in the oncology sector, particularly in women's health diagnostics. Biotheranostics offers advanced molecular diagnostic tests for breast and metastatic cancers, which align with Hologic's broader goals. The acquisition is projected to be dilutive to Hologic's non-GAAP earnings in 2021 but expected to break-even in 2022 and become accretive thereafter. The transaction is anticipated to close in February 2021, pending regulatory approvals.

Hologic, Inc. (Nasdaq: HOLX) has completed the acquisition of SOMATEX Medical Technologies GmbH for approximately $64 million. This move aims to bolster Hologic’s breast health care solutions, expanding its biopsy portfolio and enhancing sales presence, particularly in Europe. SOMATEX specializes in biopsy site markers, which are expected to generate about $13 million in revenue in 2020. The acquisition is anticipated to positively impact Hologic’s non-GAAP earnings per share starting in the current fiscal year.