Hologic’s Q3 earnings exceed expectations despite sales slowdown and chip shortage

Hologic CEO Steve MacMillan [Photo courtesy of Hologic]Hologic (Nasdaq:HOLX) posted third-quarter results today that beat the consensus forecast on Wall Street and increased its outlook for the rest of the year.

Marlborough, Massachusetts–based Hologic reported profits of $228.4 million, or $0.90 per share, on sales of $1 billion for the three months ended June 25, 2022. Compared with Q3 2021, profits decreased 14.8% while sales declined 14.2%.

Hologic said the revenue decline was primarily due to lower international sales of COVID-19 assays and persistent semiconductor shortages affecting the company’s Breast Health business.

Adjusted to exclude one-time items, earnings per share were $0.95, $0.24 above the expectation of Wall Street analysts, who were looking for EPS of $0.71 on sales of $907.22 million.

“With strength in our base business, a natural hedge to COVID outbreaks, plus a fortified balance sheet and robust cash flow, we have high c…

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Hologic launches new assays for COVID-19, flu, RSV in Europe

Hologic (Nasdaq:HOLX) announced today that it now offers its Panther Fusion SARS-CoV-2/Flu A/B/RSV assay and Novodiag test in Europe.

Marlborough, Massachusetts-based Hologic designed its Panther Fusion and Novodiag (RESP-4 molecular diagnostic) tests detect and differentiate four of the most prevalent respiratory viruses that can present with similar clinical symptoms in SARS-CoV-2, influenza A and B and respiratory syncytial virus (RSV).

Panther Fusion, a high-performance, cartridge-based assay that runs on the fully automated, high-throughput Panther Fusion system, uses nasopharyngeal swab samples.

Novodiag RESP-4, run on the Novodiag fully automated system, also uses nasopharyngeal swab samples and includes an embedded cellularity control to ensure that the sample was correctly taken, according to a news release.

Hologic’s Panther Fusion portfolio already includes the flu A/B/RSV assay, the Paraflu assay, the AdV/hMPV/RV assay and the Bo…

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Hologic launches new assays for COVID-19, flu, RSV in Europe

Hologic (Nasdaq:HOLX) announced today that it now offers its Panther Fusion SARS-CoV-2/Flu A/B/RSV assay and Novodiag test in Europe.

Marlborough, Massachusetts-based Hologic designed its Panther Fusion and Novodiag (RESP-4 molecular diagnostic) tests detect and differentiate four of the most prevalent respiratory viruses that can present with similar clinical symptoms in SARS-CoV-2, influenza A and B and respiratory syncytial virus (RSV).

Panther Fusion, a high-performance, cartridge-based assay that runs on the fully automated, high-throughput Panther Fusion system, uses nasopharyngeal swab samples.

Novodiag RESP-4, run on the Novodiag fully automated system, also uses nasopharyngeal swab samples and includes an embedded cellularity control to ensure that the sample was correctly taken, according to a news release.

Hologic’s Panther Fusion portfolio already includes the flu A/B/RSV assay, the Paraflu assay, the AdV/hMPV/RV assay and the Bo…

Read more
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Hologic launches new assays for COVID-19, flu, RSV in Europe

Hologic (Nasdaq:HOLX) announced today that it now offers its Panther Fusion SARS-CoV-2/Flu A/B/RSV assay and Novodiag test in Europe.

Marlborough, Massachusetts-based Hologic designed its Panther Fusion and Novodiag (RESP-4 molecular diagnostic) tests detect and differentiate four of the most prevalent respiratory viruses that can present with similar clinical symptoms in SARS-CoV-2, influenza A and B and respiratory syncytial virus (RSV).

Panther Fusion, a high-performance, cartridge-based assay that runs on the fully automated, high-throughput Panther Fusion system, uses nasopharyngeal swab samples.

Novodiag RESP-4, run on the Novodiag fully automated system, also uses nasopharyngeal swab samples and includes an embedded cellularity control to ensure that the sample was correctly taken, according to a news release.

Hologic’s Panther Fusion portfolio already includes the flu A/B/RSV assay, the Paraflu assay, the AdV/hMPV/RV assay and the Bo…

Read more
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Thanks, mom! Medtech leaders reflect on Mother’s Day

[Photo from Aditya Romansa on Unsplash]Everyone has a story about how they got into medtech, and it’s no surprise that many of those stories start with how we were raised.

As Mother’s Day approaches, Medical Design & Outsourcing asked medtech leaders to share some thoughts about how their moms inspired their careers, the products they make and the companies they’ve built.

We can never say “thanks” often enough to truly show our gratitude – but one more time can’t hurt.

Get the full story at our sister site, Medical Design & Outsourcing.

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Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization

BD CEO, President and Chair Tom Polen [Photo courtesy of BD]AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies.

With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case.

“Semiconductor chips are crucial to our industry and to the countless patients who depend on the medical technologies we produce,” AdvaMed President and CEO Scott Whitaker said during the meeting, according to a readout. “In this challenging environment, we simply cannot compete with larger players to gain access to chips.”

Get the full story at our sister site, Medical Design & Outsourcing.

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Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization

BD CEO, President and Chair Tom Polen [Photo courtesy of BD]

AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies.

With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case.

“Semiconductor chips are crucial to our industry and to the countless patients who depend on the medical technologies we produce,” AdvaMed President and CEO Scott Whitaker said during the meeting, according to a readout. “In this challenging environment, we simply cannot compete with larger players to gain access to chips.”

Medical device manufacturers buy about 1 percent of the world’s semiconductors, the trade group has said. That small share is difficult for the industry to leverage wit…

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Hologic handily beats the Street with Q2 results

Hologic (Nasdaq:HOLX) posted second-quarter results today that solidly exceeded the consensus forecast on Wall Street and increased its outlook for the rest of the year.

Marlborough, Massachusetts–based Hologic reported profits of $455.7 million, or $1.80 per diluted share, on sales of $1.436 billion for the three months ended March 26, 2022. That was a bottom-line decrease of 26.5% and sales decline of 6.6% compared with Q2 2021, primarily due to declining sales of COVID-19 diagnostics.

Adjusted to exclude one-time items, earnings per share were $2.07, $0.47 ahead of the Street, where analysts were looking for EPS of $1.60 on sales of $1.29 billion.

Get the full story at our sister site, Medical Design & Outsourcing.

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Hologic handily beats the Street with Q2 results

Hologic (NSDQ:HOLX) posted second-quarter results today that solidly exceeded the consensus forecast on Wall Street and increased its outlook for the rest of the year.

Marlborough, Massachusetts–based Hologic reported profits of $455.7 million, or $1.80 per diluted share, on sales of $1.436 billion for the three months ended March 26, 2022. That was a bottom-line decrease of 26.5% and sales decline of 6.6% compared with Q2 2021, primarily due to declining sales of COVID-19 diagnostics.

Adjusted to exclude one-time items, earnings per share were $2.07, $0.47 ahead of the Street, where analysts were looking for EPS of $1.60 on sales of $1.29 billion.

“We continued to generate robust profitability and cash flows in the quarter and our balance sheet is stronger than ever,” Chair, President and CEO Steve MacMillan said in the news release. “In this challenging macro environment, the health and diversity of our base businesses, plus our diagn…

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Hologic opens new innovation center in France

[Image from Hologic]Hologic (Nasdaq:HOLX) announced today that it opened its new innovation center in Aix-en-Provence, France.

Marlborough, Massachusetts-based Hologic’s new innovation center follows on the back of the company’s 2019 acquisition of Aix-en-Provence-based SuperSonic Imagine, supporting its commitment to the EMEA (Europe, the Middle East and Africa) region.

According to a news release, the new commercial office, training and research and development facility will support the company’s ultrasound, interventional and surgical solutions across breast healthcare. It will also serve as the company’s new French headquarters.

Hologic said the facility will operate as a hub to bring new innovations to market, expanding access to new women’s health technologies in the European market.

“Hologic is a global champion for women’s health and brings innovative technologies to healthcare professionals helping them detect, …

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Hologic becomes global sponsor of women’s professional tennis

Hologic (NSDQ:HOLX) and the Women’s Tennis Association announced a partnership making Hologic the global title sponsor of the WTA Tour.

The multi-year alliance represents the largest global sponsorship in WTA history, as well as Hologic’s first worldwide sponsorship.

According to a news release, the partnership aims to achieve “significant progress through a shared vision of greater wellness and equality for women.” Both organizations will aim to champion women while modernizing their respective industries of healthcare and sports.

Hologic, among many offerings, develops preventive care solutions while aiming to reduce disparities in healthcare access and education and conducting research to help countries prioritize women’s health.

“Hologic and the WTA come together with a collective purpose as pioneering advocates for women,” Hologic Chairperson, President and CEO Steve MacMillan said in the release. “We are proud t…

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Hologic beats the Street with first quarter earnings ahead of Super Bowl ad debut

Mary J. Blige will star in Hologic’s first nationwide ad campaign for consumers. [Photo courtesy of Hologic]Hologic (NSDQ:HOLX) posted fiscal first-quarter results today that beat the consensus forecast on Wall Street and increased its outlook for the rest of the year.

“We expect upside from COVID-19 testing, plus organic growth in our base Diagnostics and Surgical businesses, to offset headwinds from supply chain challenges in our Breast Health business,” CFO Karleen Oberton said in a news release.

Get the full story at our sister site, Medical Design & Outsourcing.

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