Weekly Investment Analysts’ Ratings Changes for Hologic (HOLX)

Several brokerages have updated their recommendations and price targets on shares of Hologic (NASDAQ: HOLX) in the last few weeks:

  • 5/6/2018 – Hologic had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $44.00 price target on the stock. They wrote, “in the New Year; Maintain Buy, $17 PT Our thesis is unchanged as SPNE put up solid results in 1Q18. Recall that SPNE has been transitioning the US spinal hardware business from legacy products to newer products that should (and are) growing at a faster pace, namely Mariner and Shoreline. While it has taken a few quarters, SPNE now has ~45% (up from ~24% in 1Q17) of its US spinal implant revenue coming from newer products. Combined with a growing exclusive distributor base, results came in slightly above expectations at $33.2M (+4.0%) relative to BTIG/Consensus of $32.5M/$32.7M respectively. In addition, orthobiologics continues to grow in the MSD from the strength of the portfolio, +5.2% WW, +4.9% US. SPNE is launching multiple products in both categories through FY18 (including a lateral system, Regatta, in 3Q18) while also developing instrumentation that works with navigation access. Collectively, the business continues its positive progression, the portfolio continues to build, and growth should increase to the MSD to HSD in 2H18. While macro spine dynamics remain soft, SPNE is a share taker (even if it is at a smaller scale than others). We maintain our Buy rating and $17 PT.””
  • 5/3/2018 – Hologic was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 5/3/2018 – Hologic had its price target lowered by analysts at Barclays from $54.00 to $50.00. They now have an “overweight” rating on the stock.
  • 5/3/2018 – Hologic was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating. They now have a $41.00 price target on the stock, down previously from $48.00.
  • 5/3/2018 – Hologic had its price target lowered by analysts at Deutsche Bank from $44.00 to $42.00. They now have a “hold” rating on the stock.
  • 5/3/2018 – Hologic had its price target lowered by analysts at Stifel Nicolaus from $42.00 to $40.00. They now have a “hold” rating on the stock.
  • 5/3/2018 – Hologic was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating. They now have a $39.00 price target on the stock, down previously from $48.00.
  • 5/2/2018 – Hologic was downgraded by analysts at TheStreet from a “b-” rating to a “c-” rating.
  • 5/1/2018 – Hologic had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $43.00 price target on the stock, down previously from $50.00. They wrote, “FDA’s latest monthly Mammography Quality Standards Act (MQSA) statistics were published on 5/1/18. The number of digital breast tomosynthesis (DBT) units increased by 199 during April which represents a 165.3% Y/ Y increase. DBT unit penetration increased to 31.8% from 31.1% last month and facility penetration increased to 49.6% from 48.1% last month. More importantly, DBT units placements are up 29.4% year-to-date (YTD) in 2018 vs. 2017. Assuming that HOLX is at least holding mammography market share, we believe its Breast Health business could accelerate some in 2018 given the strong YTD US mammography placements. We note that HOLX’s 3D mammography sales are less than 13% of its total sales.””
  • 4/30/2018 – Hologic was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the past three months, Hologic has been underperforming its industry. The company's  blood screening divestiture continues to impede growth. Foreign currency headwinds and a competitive landscape also continue to pose challenges for the company. On a positive note, Hologic has been witnessing strength in the Molecular Diagnostics. Moreover,  growth across all geographical regions buoys optimism. Buoyed on differentiated products, Breast Health has been performing well. We are upbeat about the recent CE Mark approval for Brevera breast biopsy system. Also, the PMA approval for the Aptima HBV Quant Assay for quantitation of hepatitis B viral load on the fully automated Panther system buoys optimism. Hologic’s strong cash position is encouraging.”
  • 4/27/2018 – Hologic was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/18/2018 – Hologic was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 4/17/2018 – Hologic was given a new $43.00 price target on by analysts at Goldman Sachs. They now have a “buy” rating on the stock.
  • 3/26/2018 – Hologic was downgraded by analysts at Goldman Sachs from a “conviction-buy” rating to a “buy” rating. They now have a $43.00 price target on the stock.

Shares of Hologic stock opened at $38.98 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 1.13. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 1.82 and a beta of 0.87. Hologic has a 12-month low of $37.84 and a 12-month high of $38.15.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Wednesday, May 2nd. The medical equipment provider reported $0.53 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.53. The business had revenue of $789.30 million for the quarter, compared to the consensus estimate of $781.23 million. Hologic had a negative net margin of 4.15% and a positive return on equity of 20.86%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. analysts forecast that Hologic will post 2.24 earnings per share for the current year.

In other Hologic news, VP Karleen Marie Oberton sold 12,196 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $40.00, for a total transaction of $487,840.00. Following the transaction, the vice president now directly owns 13,825 shares of the company’s stock, valued at approximately $553,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff acquired 13,000 shares of Hologic stock in a transaction on Thursday, March 15th. The shares were bought at an average cost of $38.80 per share, for a total transaction of $504,400.00. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in HOLX. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hologic in the 1st quarter worth about $146,000. Synovus Financial Corp purchased a new stake in shares of Hologic in the 1st quarter worth about $164,000. NuWave Investment Management LLC purchased a new stake in shares of Hologic in the 4th quarter worth about $199,000. Fiduciary Trust Co. purchased a new stake in shares of Hologic in the 4th quarter worth about $208,000. Finally, Advisor Partners LLC purchased a new stake in shares of Hologic in the 4th quarter worth about $209,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. The company operates through five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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