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.
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Hologic, Inc. has launched the Novodiag® system across Europe, enhancing its molecular diagnostic solutions portfolio. This fully automated diagnostic tool tests for infectious diseases and antimicrobial resistance, following the acquisition of Mobidiag in June 2021. The Novodiag system utilizes real-time PCR and microarray technologies, allowing for rapid multiple pathogen identification from a single sample. It features a CE-IVD test menu for gastrointestinal infections and SARS-CoV-2 detection, with a strong pipeline of future assays.
Hologic, Inc. (NASDAQ: HOLX) has initiated a series of educational initiatives aimed at reducing racial disparities in breast cancer screening. To kick off Breast Cancer Awareness Month, CEO Steve MacMillan will ring the Nasdaq opening bell on October 4. The company is focusing on raising awareness of annual mammograms and addressing inequalities in care, particularly for Black women, who are less likely to receive necessary screenings. Hologic is also collaborating with RAD-AID to improve access to screening services in underserved areas.
Hologic has launched the expanded Omni suite, enhancing gynecological surgical offerings across Europe, Africa, and the Middle East. Key new products include the Omni 30° hysteroscope, Omni Lok cervical seal, and Omni 5 French seal. The advanced hysteroscope features interchangeable sheaths and a long working length for improved versatility in diagnostic and operative procedures. The Omni Lok seal minimizes fluid leakage by an average of 94%, boosting procedural efficiency. These innovations aim to support gynecologists in outpatient environments, adapting to patient needs effectively.
Hologic, Inc. has launched the Hologic Global Women’s Health Index, emphasizing unmet women’s health needs worldwide. With input from over 60,000 women across 116 countries, the index scored a low 54 out of 100 overall, indicating significant healthcare gaps. Key findings reveal that about 1.5 billion women were not tested for critical diseases, while more than 40% haven’t consulted healthcare professionals in the past year. The index identifies five health dimensions linked to women’s life expectancy, calling for global healthcare leaders to prioritize women’s health improvement.
Hologic, Inc. (NASDAQ: HOLX) will present at two upcoming virtual investor conferences: Morgan Stanley’s 19th Annual Global Healthcare Conference on September 9 at 11 a.m. ET and Wells Fargo’s Healthcare Conference on September 10 at 1:20 p.m. ET. Both presentations will be webcast live and accessible on the investor section of Hologic's website for 30 days after the events. Hologic focuses on innovative medical technologies aimed at enhancing women's health through early detection and treatment.
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.
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