HOLX vs. GEHC: Which Women's Health Stock Should You Pick Now?

The medical imaging industry is characterized by increasing prevalence of chronic diseases, rising geriatric population, early and accurate diagnosis, and growing R&D investment in advanced technologies. Fortune Business Insights projects the market to see a CAGR of 6.65% through 2034 from $46.9 billion in 2026, driven by these trends. Major companies in this space, Hologic HOLX and GE HealthCare GEHC, continue to remain on investors’ radar.

Hologic specializes in medical imaging systems focused on women’s health — from being the first to receive the FDA approval for a 3D mammography system in 2011, to expanding with multiple innovations, such as the Clarity HD, AI-powered 3DQuorum and the Genius AI Detection solution. GE HealthCare operates a dedicated Imaging segment, spanning molecular imaging (MI), computed tomography (CT), magnetic resonance (MR) and X-ray technologies.

Here is a closer look at how the two companies currently stand.

The Case for HOLX

Over the years, Hologic has built multiple growth drivers across its three franchises through internal innovation and tuck-in acquisitions. In the first quarter of fiscal 2026, Breast Health revenues rose 1.8% year over year, driven by strong contributions from Endomagnetics products. GYN Surgical revenues increased 8.7%, reflecting higher sales of MyoSure and Fluent devices, as well as the acquired Gynesonics business.

However, Diagnostics suffered, as Molecular Diagnostics revenues declined 3.5% due to lower sales of COVID-19 tests and legacy assays for sexually transmitted infections. Growth in the BV CV/TV vaginitis assay and Panther Fusion tests partially offset the decrease.

Hologic exited the fiscal first quarter with cash and cash equivalents of $2.17 billion, and an adjusted net leverage ratio of 0.3X. Subsequent to the quarter, the company received the FDA approval for its Aptima HPV Assay for clinician-collected HPV primary screening.

In October 2025, Hologic announced an agreement to be acquired by Blackstone and TPG, in a transaction valued at up to $18.3 billion. HOLX shareholders will receive $76 per share in cash and a non-tradable contingent value right worth up to $3 per share, tied to certain Breast Health revenue targets in fiscal 2026 and 2027. The aggregate purchase price of up to $79 per share indicates a 46% premium to the May 23 closing price, the last full trading day before media rumors surfaced. With the stock closing yesterday’s session at $75.34, the cash offer implies a mere 0.9% upside. At the Feb. 5 special stockholders meeting, 99.8% voted in favor of the proposal.

The Case for GEHC

GE HealthCare marked 2025 as its third year as a public company. In the fourth quarter of 2025, results came above its expectations, including double-digit organic revenue growth in Pharmaceutical Diagnostics, and mid-single-digit growth in Imaging and Advanced Visualization Solutions. The quarter ended with a record backlog of $21.8 billion, up $2 billion year over year, and a book-to-bill ratio of 1.06 times.

In addition, it signed and extended several large agreements, including a 7-year deal with the University of Rochester Medical Center that spans across AI-enabled imaging equipment, radiopharmaceutical production and system-wide patient-monitoring solutions. The planned Intelerad acquisition is set to advance the company’s cloud-enabled e0nterprise imaging across care settings.

GE HealthCare continues to execute on its D3 strategy — using smart devices across disease states enabled by digital tools — to enable precision care tailored to the patient. New products now account for nearly 55% of the company’s revenues, with commercial launches like Omni Total Body Pet and NexGen spec in Europe already strengthening its position in diagnostics.

Following mid-single-digit growth in 2025 service revenues, management anticipates the capture rate of service agreements to rise, with the new wave of innovation entering the market. The company also advanced its business system Heartbeat, driving an average monthly improvement of 25% in past-due backlog versus the prior year, which ultimately translated into improved sales and cash conversion in 2025.

Among recent developments, GE HeathCare secured FDA’s 510k clearance of three new MR innovations, SIGNA Sprint with Freelium, SIGNA Bolt and SIGNA One, and announced collaboration with DeepTech-pioneering company Diagnoly to advance the use of AI in fetal ultrasound assessments.

EPS Projections for HOLX & GEHC

The Zacks Consensus Estimate for Hologic’s fiscal 2026 earnings indicates 4.9% year-over-year growth to $4.47. In the past 60 days, the movements in estimates have been mixed.

The Zacks Consensus Estimate for GE HealthCare’s 2026 earnings indicate 8.7% year-over-year growth to $4.99. The estimate was revised upward in the last 60 days.

HOLX vs. GEHC: Price Performance & Valuation

Hologic shares have inched up 0.7% in the past three months, whereas shares of GE HealthCare have gained 4.2%.

In terms of valuation, Hologic trades at a forward, two-year, price-to-sales (P/S) of 3.87X, lower than its median. GE HealthCare is trading at a P/S of 1.76, in line with its median.

End Note

Both companies have been dominant players in the women’s health space. Hologic’s Diagnostics performance in the recent quarter was pressured by lower COVID testing and legacy STI test sales. The company is moving forward with its private equity deal, and given the narrow gap between the buyout cash offer and the current share price, the upside potential looks very minimal. Hence, current shareholders may consider exiting their position.

Conversely, GE HealthCare benefits from the strength of its segments while advancing its innovation cadence. The executions of its precision care strategy and the Heartbeat business system are also equally promising. From a valuation perspective, GEHC appears to be more attractive than HOLX. Analyst projections for GE HealthCare's earnings are also showing a bullish trend. Considering all, GEHC appears to be a compelling investment opportunity for now.

HOLX carries a Zacks Rank #4 (Sell), while GEHC has a Zacks Rank #2 (Buy).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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