In a recent filing with the Securities and Exchange Commission, Hologic Inc (NASDAQ:HOLX), a company specializing in X-ray apparatus and related irradiation apparatus, disclosed upcoming changes to its Board of Directors. The company, which maintains excellent financial health according to InvestingPro analysis, with a current ratio of 3.69 and moderate debt levels, announced that Sally W. Crawford, a long-serving member of the board, has decided not to stand for re-election at the upcoming 2025 Annual Meeting of Stockholders. Crawford’s departure, which signifies her retirement after over 17 years with Hologic, was not due to any disagreements with the company’s operations, policies, or practices.
Additionally, Scott T. Garrett, another board member, will also be leaving his post as he reaches the company’s set retirement age by the time of the 2025 Annual Meeting. The company expressed gratitude for Garrett’s service and contributions during his tenure.
Following these departures, Hologic will reduce the size of its Board of Directors from ten to eight members. This change will take effect from the date of the 2025 Annual Meeting. The company, currently trading near its 52-week low despite generating $789.5 million in net income over the last twelve months, appears undervalued according to InvestingPro Fair Value metrics.
The company’s management and the remaining board members have extended their sincere thanks to both Crawford and Garrett for their exceptional leadership and dedication to Hologic and its shareholders. For a deeper understanding of Hologic’s valuation and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Hologic, Inc. has finalized its acquisition of Gynesonics, a medical device company, for $350 million. This move is expected to expand Hologic’s portfolio of women’s health solutions. In the financial sector, analysts at Needham have adjusted their estimates for Hologic’s performance in the first and second quarters of fiscal year 2025, anticipating similar revenue and earnings per share with a positive adjustment expected in the latter half of the year.
Additionally, Stephens has maintained an Overweight rating for Hologic following the release of updated cervical cancer screening guidelines by the US Preventive Services Task Force (USPSTF), which Hologic has supported. However, Jefferies initiated coverage on Hologic with a Hold rating, expressing concerns about its near-term prospects.
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