Hologic (NASDAQ: HOLX) shares plunged 5.17% in pre-market trading on Friday, following the company's mixed second-quarter 2025 earnings report and a series of analyst downgrades. The medical technology company, known for its diagnostic and imaging products, faced headwinds in key business segments and revised its full-year guidance downward.

The Q2 earnings report revealed total revenue of $1.005 billion, a slight decrease of 0.5% in constant currency compared to the previous year. While the Diagnostics segment showed growth, particularly in molecular diagnostics, the Breast Health segment experienced a 6.9% revenue decline. The company reported non-GAAP earnings per share of $1.03, flat year-over-year but at the high end of their guidance range.

In response to Hologic's performance and outlook, several prominent analysts cut their price targets. Jefferies reduced its target from $78 to $65, Mizuho from $75 to $65, Citigroup from $70 to $60, RBC from $75 to $70, JP Morgan from $85 to $70, UBS from $80 to $65, and Leerink Partners from $65 to $60. These downgrades reflect concerns about Hologic's future growth prospects, particularly in light of challenges in China and funding cuts affecting its HIV testing business in Africa. The company also faces increased costs due to tariffs, estimating an impact of $20 million to $25 million per quarter. As a result, Hologic revised its full-year revenue guidance to $4.05 billion to $4.10 billion and non-GAAP EPS guidance to $4.15 to $4.25, contributing to the negative market reaction.