Hologic EPS trails the consensus forecast

Hologic (NSDQ:HOLX) posted second-quarter results today that trailed the consensus forecast, but the company forecasts a strong third quarter fueled by strong COVID-19 test revenue.

The Marlborough, Mass.-based company posted profits of $1.09 billion, or $2.38 per share, on sales of $1.54 billion for the three months ended March 27, 2020. Sales growth in the quarter was 103.4% year-over-year for a 40.3% bottom-line gain.

Adjusted to exclude one-time items, earnings per share were $2.59, three cents beneath the consensus forecast of $2.62 per share on sales of $9.9 million.

“Hologic posted very strong financial results in our second fiscal quarter in line with our guidance,” said Steve MacMillan, the company’s CEO. “Organic revenue doubled, driven by strong recovery and momentum in our base businesses, as well as our continued response to the COVID-19 pandemic. And earnings per share more than quadrupled.”

The company is upb…

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Hologic to buy Somatex and its biopsy site marker tech for $64M

Hologic (NSDQ:HOLX) announced today that it completed the acquisition of Somatex Medical Technologies GmbH for $64 million.

Marlborough, Mass.-based Hologic’s acquisition of the company, which was previously owned by E-Med Solutions GmbH, is slated to support its strategy of providing further solutions across the continuum of breast health care and across Europe, according to a news release.

Somatex’s products, which include minimally invasive devices for tumor diagnostics, biopsy and interventional specialties, are seen by Hologic as opportunities to add expertise and capabilities to its breast health care portfolio. Additionally, the company has already previously distributed Somatex’s Tumark family of tissue markers in the U.S.

“The acquisition of Somatex allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for thei…

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