HOLOGIC Reports Third Quarter Earnings Results for FY2023
August 13, 2023
🌥️Earnings Overview
On July 31 2023, HOLOGIC ($NASDAQ:HOLX) reported their financial results for the third quarter of FY2023, ending June 30 2023. The company’s total revenue for the quarter amounted to USD 984.4 million, which is a 1.8% decrease compared to the same period in FY2022. Net income for the quarter was reported as USD -40.5 million, compared to USD 228.4 million in the same quarter of the prior year.
Stock Price
The company’s stock opened at $80.7 and closed at $79.4, representing a 1.6% decrease from its previous closing price of $80.7. These investments are expected to result in a number of new products in the near future that will expand the company’s portfolio and continue to drive long-term growth. Overall, HOLOGIC‘s third quarter earnings report was met with mixed reviews. Although the stock decreased following the announcement, the company’s strong revenue growth and investments in research and development give analysts and investors a reason to be optimistic that HOLOGIC will continue to grow and strengthen its position in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hologic. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_FY2023″>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. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_FY2023″>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. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_FY2023″>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. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_FY2023″>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
GoodWhale has conducted a thorough analysis of HOLOGIC‘s financials. According to our Star Chart, HOLOGIC is classified as a ‘rhino’ company with a high health score of 8/10. This suggests that HOLOGIC is able to pay off its debts and fund future operations. HOLOGIC is strong in terms of assets and profitability. Its growth rate is moderate, however its dividend is quite weak. Investors who are looking for steady returns from assets and profits may be interested in this company. Overall, HOLOGIC seems to be a solid investment option for those who prefer moderate but sustainable returns. 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 may be disappointed by the latest earnings results from HOLOGIC, as the company reported total revenue of USD 984.4 million, a decrease of 1.8% year-over-year. Net income for the quarter was reported as USD -40.5 million, a sharp decline from the USD 228.4 million reported in the same quarter in the previous year. It is clear that HOLOGIC is facing some challenges and investors should be cautious when considering investing in this stock at this time.
While it is possible that HOLOGIC will turn around and recover, it is important to note that there are risks involved. Investors should do their own research and consider the current market conditions before making any decisions.
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