Hologic (HOLX) Announces Collaboration With NFL CB Kelee Ringo
Hologic, Inc. HOLX recently teamed up with the NFL draft cornerback (CB) Kelee Ringo, and his mother, Tralee Hale, a breast cancer survivor. The partnership is set to educate women on the importance of prioritizing annual mammograms and other key health screenings.
The collaboration, scheduled to begin during National Women’s Health Week (May 14-20, 2023), will also see the launch of The Tralee & Kelee Ringo Family Foundation. The establishment will strive to eradicate triple-negative breast cancer, a particularly aggressive form of breast cancer that disproportionately affects women of color.
This latest collaboration is expected to publicize the company’s Breast Health division product line.
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News on the Partnership
In the United States, breast cancer is the most common cancer diagnosed among women. In its news release, HOLX cited recent studies which show that the rate of routine breast cancer screenings has not fully recovered after sharp declines during the pandemic. Per a report, black women in the United States are almost 40% more likely to die from breast cancer than non-Hispanic white women despite having a similar incidence rate of this disease.
Speaking of the collaboration, Hale recalled the story of not prioritizing her preventive care screenings amid family commitments and other responsibilities. Per a representative at the company, the NFL rookie and his mother will be sharing their personal story to make women aware of the critical importance of annual breast cancer screenings and making their health a priority.
Recent Updates
During the fiscal 2023 second-quarter earnings call, Hologic mentioned that the strategic addition of growth drivers across the company throughout the pandemic is contributing to its top line. Per HOLX, innovative products and services are accretive to the company’s overall strength within markets, forging strong relationships with customers.
Hologic’s Breast Health division reported strong growth in the fiscal second quarter, after a consistent decline in the last four quarters. The demand for Hologic’s clinically differentiated mammography instruments remains remarkably high, ending the quarter with a strong order backlog.
The interventional side of the Breast Health business grew, backed by HOLX’s disposable portfolio, including Brevera biopsy needles and Somatex Tumark markers. The semiconductor chip availability continues to improve, allowing the delivery of more gantries in the quarter than planned.
Within Hologic’s Diagnostics business, Molecular Diagnostics continues to lead the way. The expanded global installed base of Panthers represents the catalyst for the division's sustained growth. Panther’s superior workflow combined with the broad menu of nearly 20 FDA-approved assays across the Panther and Panther Fusion systems differentiates HOLX from others.
Industry Prospect
Per a research report, the global breast cancer market size was valued at $31.89 billion in 2022 and is expected to witness a CAGR of 10.4% by 2030.
Price Performance
In the past six months, Hologic has mostly outperformed the industry. Shares of the company have increased 10.7% compared with the industry’s rise of 5.9%.
Zacks Rank & Other Key Picks
Hologic currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the overall healthcare sector are Penumbra PEN, Lantheus LNTH and Neuronetics STIM. While Penumbra and Lantheus each sport a Zacks Rank #1 (Strong Buy), Neuronetics carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has risen 118.5% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has increased from $1.47 to $1.56 for 2023 and from $2.51 to $2.56 for 2024 in the past seven days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has increased from $4.95 to $5.60 in the past 30 days. Shares of the company have improved 54.9% in the past year against the industry’s 27.7% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Neuronetics’ loss per share have narrowed from $1.32 to $1.29 for 2023 in the past seven days. Shares of the company have risen 14.4% in the past year compared with the industry’s 5.2% growth.
STIM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 19.61%. In the last reported quarter, Neuronetics delivered an earnings surprise of 2.56%.
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