Why Hologic (HOLX) Stock Is Gaining After-Hours Today

NEW YORK (TheStreet) -- Hologic (HOLX) was gaining 4.8% to $22.00 after-hours Wednesday after beating analysts' estimates for earnings and revenue in the fiscal second quarter.

For the second quarter Hologic reported earnings of 37 cents a share, beating the Capital IQ Consensus Estimate of 33 cents a share by 4 cents. Revenue grew 2% to $625 million, beating analysts' estimates of $609.35 million for the quarter.

"Second quarter results reflect early progress towards our renewed focus on executional discipline as we drive to our goal of sustainable organic growth," president and CEO Stephen MacMillan said in a press release. "Our key product lines, such as Hologic's unique 3D mammography and Aptima HPV, gained momentum during the quarter."

Looking forward to the fiscal third quarter the Hologic expects revenue of between $615 million and $625 million, and EPS of 33 cents to 34 cents a share.

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TheStreet Ratings team rates HOLOGIC INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate HOLOGIC INC (HOLX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."

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