Welcome to our dedicated page for Hologic news (Ticker: HOLX), a resource for investors and traders seeking the latest updates and insights on Hologic stock.
Hologic Inc. (NASDAQ: HOLX) is a leading global healthcare company dedicated to the science of sure. Headquartered in Bedford, Massachusetts, Hologic specializes in developing, marketing, and servicing some of the most innovative and accurate diagnostic imaging systems and surgical products available today. The company's core business focuses on meeting the healthcare needs of women, operating through five primary segments: diagnostics, breast health, surgical, and skeletal health.
Diagnostics, which accounts for 60% of total sales, has seen a significant boost due to the pandemic, underscoring the company's strategic pivot toward commercial diagnostics following the acquisition of Gen-Probe. This segment includes a wide range of tests and instruments essential for early disease detection and management.
Breast Health, traditionally a cornerstone of Hologic’s business, contributes 14% to total sales. Though this segment was initially suppressed by the pandemic, it remains vital for innovations in mammography and breast surgery. Hologic's Surgical segment, representing 11% of sales, offers advanced products that enhance surgical outcomes and patient safety. The Skeletal Health segment, although smaller at 1% of total sales, provides critical tools for assessing bone health.
Hologic’s reach is vast, with the United States accounting for 69% of its revenue, followed by Europe at 20%, Asia at 8%, and other international markets making up the remaining 3%. The company's diverse, dedicated, and creative team is committed to not only advancing medical science but also providing greater confidence and peace of mind in diagnosis, enabling healthier lives worldwide.
Stay updated with the latest from Hologic by connecting on Hologic.com, Facebook, and Twitter.
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.
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.
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