Why Hologic, Inc. (HOLX) Went Up On Tuesday

We recently published a list of These 10 Stocks Exploded by Double Digits Today. In this article, we are going to take a look at where Hologic, Inc. (NASDAQ:HOLX) stands against other best-performing stocks.

Hologic ended a three-day losing streak on Tuesday, jumping 14.54 percent to finish at $62.17 apiece following news that it is being targeted for acquisition for $16 billion.

A report by Financial Times on Tuesday said that private equity firms TPG and Blackstone made an approach to acquire Hologic, Inc. (NASDAQ:HOLX). However, the latter was said to have rejected the non-binding offer.

If talks resume, the proposed deal would value Hologic, Inc. (NASDAQ:HOLX) between $70 and $72, a significant premium to its $62.17 closing price on Tuesday.

In the second quarter of fiscal year 2025, Hologic, Inc. (NASDAQ:HOLX) swung to a net loss of $17.4 million from a $169.9 million net income in the same period last year.

Revenues dipped by 1 percent to $1.005 billion from $1.017 billion year-on-year.

In the six-month period alone, net income dropped by 56 percent to $183.6 million from $416.4 million, while revenues ended flat at $2.03 billion.

Overall, HOLX ranks 6th on our list of best-performing stocks. While we acknowledge the potential of HOLX, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HOLX and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.