Hologic announced better-than-expected preliminary revenue results for 1Q. Additionally, the medical technology company introduced a new $1 billion share repurchase program. Shares closed 3.2% higher on Friday. Hologic (HOLX), which is scheduled to report its 1Q results on January 27, expects quarterly total revenues to increase 89.3% to nearly $1.61 billion year-on-year, compared with analysts' estimates of $1.38 billion. It is also higher than its previous guidance of $1.35-$1.425 billion. Hologic said that its top-line benefited from strong testing volumes related to the COVID-19 pandemic. The company provided over 30 million COVID-19 tests globally during the quarter.
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