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Hologic's Strong International Traction to Continue Despite Headwinds
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Key Takeaways
Hologic's Diagnostics faces pressure from China's challenges and reduced HIV testing funding in Africa.
Hologic's International Surgical increased about 25% in Q3 2025, with NovaSure thriving overseas.
HOLX's Panther platform hits record use; Genius digital diagnostics expands globally
with strong feedback.
Expanding internationally is a key part of Hologic’s (HOLX - Free Report) growth strategy, though it isn’t immune to the macroeconomic risks that come with it. The company’s Diagnostics segment outside the United States is expected to remain under pressure through 2025 due to China’s difficult operating landscape and cuts to USAID funding for the HIV testing business in Africa. Hologic has made progress in mitigating the tariff impact on its business, but it will still weigh on margins. Despite these challenges, international markets are expected to contribute meaningfully to overall growth through the majority of 2026 and beyond.
The GYN Surgical segment is benefiting from robust investments in commercial and market access capabilities, which have expanded the reach of its minimally invasive products. International Surgical grew nearly 25% in the third quarter of fiscal 2025, fueled by broad portfolio momentum and strong uptake in newly reimbursed markets. Despite declining domestic sales, NovaSure has consistently delivered double-digit growth overseas, highlighting the vast potential to advance women's health globally. New addition, Gynesonics, is poised to become another important international driver over time.
Also, the BV, CV/TV molecular diagnostic assay is now Hologic’s second largest globally. The company also holds a sizable opportunity to increase its global share in STI testing, where it has maintained U.S. leadership for years, as well as in other categories. Worldwide utilization of the Panther platform continues to reach new all-time highs. The ongoing global rollout of the Genius digital diagnostics system is earning strong feedback. Also, while Hologic holds nearly an 85% share in the U.S. 3D mammography market, the market is vastly underdeveloped globally, presenting another big opportunity.
Our model forecasts Hologic’s International business to expand at a 4.7% CAGR between fiscal 2025 and 2027.
Hologic’s Peer Updates
Abbott’s (ABT - Free Report) international sales rose 6.6% in the second quarter of 2025. In terms of the latest developments, Abbott received CE Mark for an expanded indication for the Navitor transcatheter aortic valve implantation system to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery. Late-breaking data from the company’s VANTAGE study was critical in securing this expansion.
Thermo Fisher Scientific (TMO - Free Report) also derives a substantial portion of revenues from international markets. Thermo Fisher recently launched the Olink Target 48 Neurodegeneration Panel, a high-performance, targeted proteomics immunoassay panel developed to accelerate discoveries in neurodegenerative disease research. It delivers simultaneous measurement of 41 key and emerging proteins for neurodegeneration research with absolute quantification and is optimized for plasma measurement from as little as 1µL of sample.
HOLX Stock Performance, Valuation and Estimates
Over the past year, Hologic shares have dropped 18.2% compared with the industry’s 18.4% decline.
Image Source: Zacks Investment Research
Hologic is trading at a forward three-year price-to-sales of 3.57X, lower than the industry average of 3.96X. The stock carries a Value Score of B at present.
Image Source: Zacks Investment Research
See how analysts are projecting Hologic’s fiscal 2025 and 2026 earnings.
Image: Bigstock
Hologic's Strong International Traction to Continue Despite Headwinds
Key Takeaways
Expanding internationally is a key part of Hologic’s (HOLX - Free Report) growth strategy, though it isn’t immune to the macroeconomic risks that come with it. The company’s Diagnostics segment outside the United States is expected to remain under pressure through 2025 due to China’s difficult operating landscape and cuts to USAID funding for the HIV testing business in Africa. Hologic has made progress in mitigating the tariff impact on its business, but it will still weigh on margins. Despite these challenges, international markets are expected to contribute meaningfully to overall growth through the majority of 2026 and beyond.
The GYN Surgical segment is benefiting from robust investments in commercial and market access capabilities, which have expanded the reach of its minimally invasive products. International Surgical grew nearly 25% in the third quarter of fiscal 2025, fueled by broad portfolio momentum and strong uptake in newly reimbursed markets. Despite declining domestic sales, NovaSure has consistently delivered double-digit growth overseas, highlighting the vast potential to advance women's health globally. New addition, Gynesonics, is poised to become another important international driver over time.
Also, the BV, CV/TV molecular diagnostic assay is now Hologic’s second largest globally. The company also holds a sizable opportunity to increase its global share in STI testing, where it has maintained U.S. leadership for years, as well as in other categories. Worldwide utilization of the Panther platform continues to reach new all-time highs. The ongoing global rollout of the Genius digital diagnostics system is earning strong feedback. Also, while Hologic holds nearly an 85% share in the U.S. 3D mammography market, the market is vastly underdeveloped globally, presenting another big opportunity.
Our model forecasts Hologic’s International business to expand at a 4.7% CAGR between fiscal 2025 and 2027.
Hologic’s Peer Updates
Abbott’s (ABT - Free Report) international sales rose 6.6% in the second quarter of 2025. In terms of the latest developments, Abbott received CE Mark for an expanded indication for the Navitor transcatheter aortic valve implantation system to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery. Late-breaking data from the company’s VANTAGE study was critical in securing this expansion.
Thermo Fisher Scientific (TMO - Free Report) also derives a substantial portion of revenues from international markets. Thermo Fisher recently launched the Olink Target 48 Neurodegeneration Panel, a high-performance, targeted proteomics immunoassay panel developed to accelerate discoveries in neurodegenerative disease research. It delivers simultaneous measurement of 41 key and emerging proteins for neurodegeneration research with absolute quantification and is optimized for plasma measurement from as little as 1µL of sample.
HOLX Stock Performance, Valuation and Estimates
Over the past year, Hologic shares have dropped 18.2% compared with the industry’s 18.4% decline.
Image Source: Zacks Investment Research
Hologic is trading at a forward three-year price-to-sales of 3.57X, lower than the industry average of 3.96X. The stock carries a Value Score of B at present.
Image Source: Zacks Investment Research
See how analysts are projecting Hologic’s fiscal 2025 and 2026 earnings.
Image Source: Zacks Investment Research
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.