HOLOGIC Reports Q3 FY2023 Earnings Results on July 31 2023
August 19, 2023
🌥️Earnings Overview
On July 31 2023, HOLOGIC ($NASDAQ:HOLX) reported its earnings results for the quarter ending June 30 2023, posting total revenue of USD 984.4 million, a 1.8% decrease from the same quarter last year. The company’s net income was USD -40.5 million, compared to USD 228.4 million in the prior year.
Share Price
On Monday, July 31 2023, HOLOGIC announced their financial results for Q3 FY2023. The stock opened at $80.7 and closed at $79.4, marking a decrease of 1.6% from its previous closing price of 80.7. This decline in stock price reflects investor sentiment on HOLOGIC’s performance in the third quarter. HOLOGIC’s financial report showed a marginal increase in revenue and profit compared to the same period last year but the company also reported a slight decline in its market share.
This could be attributed to the fierce competition in the industry, particularly from newer players who have been able to capture a share of the market through innovative products at competitive prices. Overall, HOLOGIC’s financial results for Q3 FY2023 were mixed, with a slightly positive outlook for the future. Although the company’s stock has taken a dip due to investor sentiment, it is expected to recover in the coming quarters as the company continues to invest in innovation and new markets. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hologic. More…
| Total Revenues | Net Income | Net Margin |
| 4.04k | 484.1 | 13.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hologic. More…
| Operations | Investing | Financing |
| 961.1 | -128.2 | -442.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hologic. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.34k | 4.16k | 21.16 |
Key Ratios Snapshot
Some of the financial key ratios for Hologic are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.0% | 19.7% | 19.3% |
| FCF Margin | ROE | ROA |
| 20.6% | 9.3% | 5.2% |
Analysis
At GoodWhale, we have conducted an analysis of HOLOGIC‘s financials, and its Star Chart shows that it is strong in asset, profitability, and medium in growth, but weak in dividend. We assign HOLOGIC a health score of 8/10 with regard to its cashflows and debt, suggesting it is capable of safely riding out any crisis without the risk of bankruptcy. Additionally, we classify HOLOGIC as a ‘rhino’, a type of company that we believe has achieved moderate revenue or earnings growth. Given these findings, HOLOGIC may be an attractive investment opportunity for value investors looking for high returns on assets, as well as those interested in long-term stability and stability of cash flows. Additionally, those who are seeking a moderate rate of growth may find HOLOGIC to be a suitable investment. Ultimately, HOLOGIC could potentially offer a good balance of stability and growth for many types of investors. More…
Peers
The company’s products are used in a variety of settings, including hospitals, clinics, and physician offices. Hologic also provides a range of services, including support, training, and education. The company has a strong presence in the United States and international markets, and its products are backed by a large body of scientific research. ALR Technologies Inc, G Medical Innovations Holdings Ltd, and Omega Diagnostics Group PLC are all competitors of Hologic Inc.
– ALR Technologies Inc ($OTCPK:ALRT)
ALR Technologies Inc is a publicly traded company with a market capitalization of $19.32 million as of 2022. The company has a return on equity of 17.26%. ALR Technologies is a leading provider of enterprise software solutions. The company’s products are used by organizations of all sizes to manage their businesses. ALR Technologies’ products are used by companies in a variety of industries, including healthcare, manufacturing, retail, and government.
– G Medical Innovations Holdings Ltd ($NASDAQ:GMVD)
As of 2022, Aetna’s market cap was 5.58M and its ROE was 783.79%. Aetna is a diversified healthcare benefits company that offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans.
– Omega Diagnostics Group PLC ($LSE:ODX)
Omega Diagnostics Group PLC is a medical diagnostics company. The company develops, manufactures, and supplies diagnostic test kits and instruments. It offers tests for the detection of allergies, food intolerances, infectious diseases, and hormones. The company sells its products through a network of distributors in the United Kingdom, Europe, the United States, Asia, Australia, and Africa.
Summary
Investors interested in HOLOGIC should take note of the company’s recent earnings report for Q3 of FY2023. Total revenue for the quarter was USD 984.4 million, a slight decrease of 1.8% from the same quarter of the previous year. Net income was reported at USD -40.5 million, a decrease from the previous year’s USD 228.4 million.
This report should be carefully considered when making investment decisions in the near future. Short-term investors may want to be wary, but long-term investors may continue to have faith in HOLOGIC as their business strategies come to fruition.
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