Hologic, Inc. HOLX is set to unveil groundbreaking technologies at the 110th Scientific Assembly and Annual Meeting of the Radiological Society of North America (RSNA) in Chicago, to be held from Dec. 1-5. With a focus on enhancing breast health care, the company will showcase AI-powered breast imaging advancements designed to assess breast density, enhance workflows and improve cancer detection.

Additionally, in the same event, Hologic will present the results of a recently published study demonstrating the performance of its Genius AI Detection 2.0 software across diverse patient populations.

Predicting HOLX Stock Movement Following the News

After the announcement on Nov. 25, HOLX shares edged up 0.6%, finishing at $79.44. The company continues to further its leading technologies to the next level through strong customer relationships, continuous improvement and the latest research, supporting healthcare providers in improving the patient experience and providing excellent care. Henceforth, we expect the recent development to boost market sentiment toward the HOLX stock.

Hologic currently has a market capitalization of $18.35 billion. The company’s earnings yield of 5.46% compares favorably to the industry’s yield of -5.73%. It delivered an earnings beat of 3.1%, on average, in the trailing four quarters.

More on Hologic’s Upcoming Presentations

For the first time, RSNA attendees will experience Hologic’s Envision Mammography Platform, which offers patients a high-speed Hologic 3D mammogram with an industry-leading 2.5-second scan time. The next-generation technology provides a more comfortable exam with tilt positioning, adapting to patients rather than the other way around. As the first FDA-approved mammography technology, the Envision platform enhances the detection of subtle objects, minimizes focal spot blur and improves 3D image sharpness.

Furthermore, Hologic will mark the U.S. debut of its next-generation Genius AI Detection PRO solution, which builds on its Genius AI Detection 2.0, and offers even greater accuracy and efficiency. It features a deep-learning 2D and 3D algorithm that improves specificity, an intuitive 1-10 case and lesion scoring and pre-populated exam reports, and an all-in-one interface that conveniently includes deep-learning breast density scoring along with key patient and mammogram quality information.

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Moreover, a study of more than 7,500 3D mammograms from women who identified as Asian, Black, Hispanic or White showed that the measured performance of Genius AI Detection 2.0 software was similar across all cohorts evaluated. This addresses the growing concern of reducing racial bias in AI algorithms in healthcare.

Other Developments in Hologic

Last month, the company signed a definitive agreement to acquire Gynesonics, Inc., a developer of minimally invasive solutions for women’s health. The latter’s Sonata System complements Hologic’s Surgical Solutions offering and also gives an expanded range of options for treating women suffering from heavy periods and fibroids.

Industry Prospects Favoring Hologic

Per a research report, the global AI in the Breast Imaging market was valued at $363.83 million in 2023 and is expected to grow at a compound annual rate of 28.9% by 2031. AI’s popularity in this industry has increased due to the creation of complex AI algorithms that can analyze huge amounts of imaging data.

HOLX Stock Price Performance

In the past six months, shares of Hologic have increased 9.7% against the industry’s fall of 0.3%.

HOLX’s Zacks Rank & Key Picks

Hologic currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader medical space are Penumbra PEN, Haemonetics HAE and Globus Medical GMED, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Penumbra’s shares have risen 7.8% in the past year. Estimates for the company’s 2024 earnings per share have jumped 8.1% to $2.79 in the past 30 days. PEN’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 10.54%. In the last reported quarter, it posted an earnings surprise of 23.19%.

Estimates for Haemonetics’ fiscal 2025 earnings per share have jumped 0.4% to $4.59 in the past 30 days. Shares of the company have rallied 8.9% in the past year compared with the industry’s growth of 21.2%. HAE’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.82%. In the last reported quarter, it delivered an earnings surprise of 2.75%.

Estimates for Globus Medical’s 2024 earnings per share have increased 3.9% to $2.95 in the past 30 days. Shares of the company have surged 90.3% in the past year compared with the industry’s 15.1% rise. GMED’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 17.65%. In the last reported quarter, it delivered an earnings surprise of 27.69%.

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