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MARLBOROUGH, Mass. - Hologic, Inc. (NASDAQ:HOLX), a medical technology company with a market capitalization of $13.7 billion, announced today that Wayde McMillan has been elected to its Board of Directors, effective today. McMillan, who is currently the Chief Financial Officer of Solventum Corporation, also joins the Audit and Finance Committee. According to InvestingPro analysis, Hologic maintains excellent financial health with a "GREAT" overall rating and appears undervalued at its current price of $60.86.
McMillan’s background includes a tenure as CFO of 3M Company’s Health Care Business Group starting in November 2023, and prior to that, he served as CFO and Treasurer at Insulet Corporation. His experience in the medical device sector extends to his role as CFO and Vice President of Finance for the Minimally Invasive Therapies Group at Medtronic plc, following a variety of leadership positions at Covidien before its acquisition by Medtronic.
Steve MacMillan, Hologic’s Chairman, President and CEO, expressed enthusiasm about McMillan’s appointment, citing his "extensive financial expertise and deep understanding of the med-tech industry" as valuable assets to the Board.
McMillan holds a Bachelor of Science in Business Administration from Merrimack College and an MBA from Bentley University’s McCallum Graduate School of Business.
Hologic focuses on advancing women’s health through early detection and treatment. The addition of McMillan is part of the company’s ongoing efforts to strengthen its leadership and strategic direction. However, Hologic cautions that forward-looking statements involve risks and uncertainties, and actual results may differ materially from those anticipated.
This announcement is based on a press release statement from Hologic, Inc.
In other recent news, Hologic Inc. reported its financial results for the first quarter of fiscal year 2025, showing an earnings per share (EPS) of $1.03, which exceeded forecasts by $0.02, while revenue reached $1.022 billion, missing the projected $1.03 billion. The company revised its full-year revenue guidance downward by $100 million due to slower growth in its Breast Health segment and currency-related headwinds. Despite these challenges, Hologic maintained its EPS guidance for the fiscal year, reflecting confidence in its financial resilience. In regulatory developments, Hologic announced that its Aptima SARS-CoV-2 assay received 510(k) clearance from the U.S. Food and Drug Administration, reinforcing its utility in managing COVID-19. Analyst firm Mizuho adjusted its outlook on Hologic, reducing the stock price target to $83 from $87 while maintaining an Outperform rating, citing challenges such as the strong US dollar and reduced capital sales in Breast Health. Meanwhile, Needham maintained a Hold rating on Hologic, noting the mixed financial results and a cautious outlook on the Breast Health business. Additionally, Hologic announced an executive transition with John Griffin, the General Counsel, set to retire and transition to a Special Advisor role, with Anne Liddy poised to take over the position.
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