1. Do you need a true +5.0 V output voltage, or a high logic level (2.4 V to 5.25 V)?
2. What does the output of the circuit drive?
3. Are voltages other than +5 V available to power the circuit?
4. Using the Vout equation on the datasheet, calculate the output voltages for your two detection limits.
Once you have the detection trip points, we can work through a comparator circuit. You need one comparator for each trip point, something to buffer the sensor's reference output, and an output driver of some kind. Depending on your answers, it looks like one quad comparator or opamp could do everything.
Where are you?
ak