Hologic's 2025 Outlook Improves on Strong Q3, Easing Tariff Headwinds

On its July 2025 earnings call, Hologic HOLX said that it is well on track with the financial improvement plan laid out earlier this year. The company raised the midpoints of its fiscal 2025 guidance ranges, with revenues now expected in the range of $4.08-$4.09 billion and adjusted earnings per share (EPS) between $4.23 and $4.26.

3 Factors Supporting Hologic’s Upbeat Outlook

Breast Health Rebound Potential: Fiscal third-quarter sales of $365.2 million modestly exceeded internal expectations and showed sequential improvement, with the segment expected to return to growth in the final quarter of 2025. Hologic’s new commercial leadership team took a series of actions, including a split sales structure for capital and disposable products and a new end-of-life strategy for older gantries. Ongoing clinical and product innovation, such as the Genius AI Detection PRO, offers a competitive advantage. Moreover, Endomagnetics remains a key driver.

Tariff Mitigation Actions: Hologic had earlier estimated tariff costs of $20 million to $25 million per quarter, with two-thirds tied to Costa Rica, where the surgical and interventional breast health products are manufactured, and 15% from China. Through changes in its global supply chain, operating model and several procurement efforts, the company now expects to incur $10 million to $12 million in quarterly tariffs.

Strength in GYN Surgical: Within this, the international business posted 24.8% growth in the third quarter, thanks to strong momentum across the entire Surgical portfolio and adoption in markets where reimbursement has recently been established. Hologic expects that the fourth quarter will deliver the strongest revenue growth for the year due to favorable year-over-year comparisons and improved commercial execution. 

Hologic’s Competitor Outlook for 2025

Becton, Dickinson and Company BDX, or BD, increased its organic growth trajectory in the fiscal third quarter while delivering margin and EPS gains, fueled by the BD Excellence operating system. Backed by a strong third-quarter operating performance and incremental selling and marketing investments in the fourth quarter, BD’s revised full-year adjusted EPS guidance of $14.30-$14.45 reflects an 18-cent increase at the midpoint, while organic revenue growth is reaffirmed at 3%-3.5%.

QIAGEN N.V. QGEN achieved another solid performance in its second quarter of 2025, with results ahead of its outlook for both sales and adjusted EPS. Together with a solid first-half performance and current macroeconomic trends, QIAGEN has increased the FY 2025 net sales outlook to 4-5% CER growth (prior about 4% CER growth). It reaffirmed the adjusted diluted EPS target of about $2.35 CER, which was increased by 7 cents in April 2025.

HOLX Stock Performance, Valuation and Estimates

In the past three months, Hologic shares have rallied 3.3% compared with the industry’s 1.2% gain. 

Hologic is trading at a forward five-year price-to-sales of 3.49X, lower than the industry average of 4.07X. The stock carries a Value Score of B at present.

See how analysts are projecting Hologic’s fiscal 2025 and 2026 earnings.

HOLX stock currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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