In a recent SEC filing, Hologic Inc . (NASDAQ:HOLX) reported that Chief Operating Officer Mitchell Essex sold 24,856 shares of the company's common stock on December 4, 2024. The shares were sold at an average price of $76.339, resulting in a total transaction value of approximately $1.9 million. The medical technology company, currently valued at $17.5 billion, maintains strong financial health with a "GREAT" rating according to InvestingPro analysis. The company's robust position is reflected in its healthy current ratio of 4.0 and moderate debt levels.
Additionally, Essex exercised options to acquire a total of 22,902 shares of Hologic stock at prices ranging from $40.97 to $71.13. The total value of these transactions amounted to approximately $1.43 million. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ US stocks, management has been actively buying back shares, demonstrating confidence in the company's future. Following these transactions, Essex holds 27,957 shares of the company directly.
In other recent news, Hologic has reported strong financial results for its fourth quarter and fiscal year 2024. The healthcare and diagnostics company's total revenue for the quarter was $987.9 million, contributing to the full fiscal year revenue of $4.03 billion. Non-GAAP earnings per share (EPS) were $1.01 for the quarter and $4.08 for the year. Hologic has also provided optimistic guidance for fiscal 2025, with expected revenue between $4.150 and $4.201 billion and non-GAAP EPS of $4.25-$4.35.
Three of Hologic's segments, Diagnostics, Breast Health, and Surgical, all reported revenue growth, with Diagnostics leading at 6.2%. In the recent developments, the company launched the Genius Digital Diagnostic System and made strategic acquisitions to bolster its product offerings. It also announced a $250 million accelerated share repurchase program.
CEO Steve McMillan emphasized Hologic's role as a key partner in maximizing business opportunities through innovative product offerings. COO Essex Mitchell highlighted the significant growth of the international business, which is now nearly 50% larger compared to 2019. Mitchell also noted that international growth is expected to outpace domestic business growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.