HOLX - Hologic gains amid positive views from analysts on Q4 results

Hologic, Inc. ( NASDAQ: HOLX ) gained ~7% pre-market Tuesday as analysts issued favorable views on the COVID-19 test developer’s Q4 fiscal 2022 results that exceeded the company forecasts and the consensus.

The company’s 2023 outlook which was in line with the consensus for revenue and adjusted earnings, “feels like a beat amidst lower sentiment,” Raymond James analyst Andrew Cooper wrote with an Outperform rating on the stock.

“…in all likelihood, the guide is a more important factor and though optically bracketing consensus, this is a positive outcome amidst more negative market-wide sentiment into the print,” Cooper added.

Cowen analyst Max Masucci who has a similar rating on Hologic ( HOLX ), wrote that the company “delivered a solid FQ4 beat from a growth and profitability standpoint.”

Ahead of the earnings update, “we characterized HOLX stock as a ‘relatively safe place to be,’ given its balance sheet and upward revision potential,” Masucci noted, adding, “Exiting the print, our opinion is unchanged.”

Heading into the company’s earnings results, Seeking Alpha contributor Shri Upadhyaya identified Hologic ( HOLX ) as an underappreciated asset given its strong financials, history of business execution, and promising outlook.

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