Hologic (NASDAQ: HOLX) stock surged 5.35% in the post-market session on Monday following the release of its fiscal fourth-quarter results that exceeded analyst expectations. The women's health company reported strong performance across its product divisions, driving both earnings and revenue growth.
For the quarter ended September 27, Hologic posted adjusted earnings per share of $1.13, surpassing the consensus estimate of $1.10. This represents an 11.9% increase from $1.01 per share in the same quarter last year. Revenue climbed 6.2% year-over-year to $1.05 billion, beating analyst forecasts of $1.03 billion.
The company's diagnostics segment saw higher core U.S. molecular diagnostics sales, offsetting lower COVID-19 assay sales and reduced sales in China. The breast health division benefited from strong interventional product sales and improved U.S. sales execution. Additionally, surgical revenue rose over 10%, driven by robust demand for MyoSure and Fluent systems. With these positive results and the pending acquisition by Blackstone and TPG, investors appear optimistic about Hologic's future prospects.