Hologic Inc Stock Price, News & Analysis

Hologic, Inc. (NASDAQ: HOLX) is set to release its financial results for Q2 2023 on May 1 after market close. A conference call will follow at 4:30 p.m. ET, where management will provide insights into the results. Interested participants can join the call by dialing the provided numbers or by click here to join. A replay will be available on Hologic's investor website.

Hologic, Inc. (NASDAQ: HOLX) will present at the Cowen 43rd Annual Health Care Conference on March 7, 2023, at 9:10 a.m. Eastern Time in Boston, MA. The conference runs from March 6-8 and includes various presentations and panel discussions on the health care industry. Hologic's presentation will be available via a live webcast on the company's investor website for 30 days post-event. Hologic is dedicated to enhancing women’s health through early detection and treatment innovations.

Hologic, Inc. (NASDAQ: HOLX) announced that the U.S. Court of Appeals for the Federal Circuit upheld a 2021 ruling that invalidated a Minerva patent related to its NovaSure system. The court determined Minerva's patent was invalid due to a delay in filing after showcasing a prototype. This decision aligns with the previous district court judgment, which favored Hologic just before trial. In a related case, Minerva was ordered to pay Hologic over $7.4 million for infringing a Hologic patent. NovaSure, approved by the FDA in 2001, is a minimally invasive procedure for treating abnormal uterine bleeding, with a 77.7% efficacy rate and 92.8% patient satisfaction.

Hologic Inc. announced the approval of its NovaSure® V5 global endometrial ablation device in Canada and Europe. This advanced version features enhanced technology aimed at treating diverse cervical and uterine anatomies, enhancing patient outcomes. With over 3 million women treated globally, the NovaSure V5 offers a 97% patient satisfaction rate and an 87% hysterectomy avoidance rate at ten years post-procedure. Key improvements include an updated cervical seal and enhanced accuracy markings. The company emphasizes ongoing commitment to innovation in women's health.

Hologic, Inc. reported Q1 FY2023 revenue of $1,074 million, surpassing guidance of $940 to $990 million, despite a 27% year-over-year decline primarily due to lower COVID-19 assay sales and semiconductor supply chain issues. GAAP diluted EPS stood at $0.75, down 61.5% from the prior year, with non-GAAP EPS of $1.07, a 50.7% decline. The company experienced a 15.8% revenue growth in Diagnostics, excluding COVID-19, and Surgical revenue grew by 14.7%. Hologic raised its fiscal 2023 revenue guidance to $3.85 billion - $4 billion and EPS guidance to $2.69 - $2.99, indicating confidence in growth despite challenges.

Hologic, Inc. (HOLX) reported preliminary revenue results for Q1 FY2023, estimating revenues of approximately $1,074.2 million, exceeding guidance of $940 to $990 million. This represents a 27.0% decline compared to the previous year. However, organic growth in segments excluding COVID was notable: 15.8% in Diagnostics, 24.5% in Molecular Diagnostics, and 14.7% in Surgical. Non-GAAP EPS is expected to exceed the guidance of $0.80 to $0.90. Full financial results will be disclosed on February 1, 2023.