Weekly Research Analysts’ Ratings Changes for Hologic (HOLX)

Hologic (NASDAQ: HOLX) recently received a number of ratings updates from brokerages and research firms:

  • 8/16/2018 – Hologic was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/14/2018 – Hologic had its price target lowered by analysts at Canaccord Genuity from $42.00 to $41.00. They now have a “hold” rating on the stock.
  • 8/13/2018 – Hologic had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $48.00 price target on the stock. They wrote, “HOLX filed an 8-K this morning announcing it is suspending the marketing and distribution of its TempSure Vitalia handpieces and single-use probes. This is in response to an FDA public statement issued on 7/30/18 expressing concerns for vaginal rejuvenation” procedures using energy-based devices and a letter to HOLX from the FDA regarding its MonaLisa Touch laser product (we note that the letter did not mention Vitalia). The 8-K notes that HOLX had included ~$7M of revenue from Vitalia in its F4Q18 guidance or ~0.9% of our current estimate. The revenue impact could be higher than this in F4Q18 depending on how many returns of unused Vitalia products it receives, however.””
  • 8/9/2018 – Hologic was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/2/2018 – Hologic was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Hologic saw a solid third quarter of fiscal 2018. Strong international performance and improvement in the Surgical and Cynosure businesses are encouraging. Backed by a portfolio of differentiated products, the company’s Breast Health business has been going strong. We are upbeat about the company’s receipt of CE Mark for its Panther Fusion MRSA assay and Health Canada approval for its new Panther Fusion system and Panther Fusion assays. Management is looking forward to the recently-completed buyout of Faxitron Bioptics. Hologic has outperformed its industry over the past three months. However, the blood screening divestiture is likely to impede growth. Moreover, the company expects revenues from the Cynosure business to decline on a sequential basis due to seasonality and FDA-related issues pertaining to MonaLisa Touch.”
  • 8/2/2018 – Hologic had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $47.00 price target on the stock. They wrote, “Raising PT to $47 from $44 After a tough F2Q, all eyes were on HOLX’s Cynosure Aesthetics business going into this F3Q. CYNO sales of $91.7M exceeded the Street’s bar of ~$88M and we think HOLX shares may enjoy a small relief rally Wednesday. We think investors will also want to see long-term growth here. The company’s core businesses remained solid, with a nice revenue beat in Breast Health and strong Blood Screening sales. We were also encouraged by what seemed like stabilization in the GYN Surgical division. Beyond these results, HOLX picked up and announced a new CFO (internal promotion) as the prior CFO moves on to Agilent. In our view, revenue guidance for F4Q set below Street estimates may have been slightly conservative, but we view this as a positive quarter overall for HOLX. We raise our PT to $47 from $44 previously, now based on 18x our 12-24 mo. adj. EPS estimate.””
  • 8/1/2018 – Hologic had its price target raised by analysts at Deutsche Bank AG from $42.00 to $45.00. They now have a “hold” rating on the stock.
  • 8/1/2018 – Hologic had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $45.00 price target on the stock.
  • 8/1/2018 – Hologic had its price target raised by analysts at Bank of America Corp from $44.00 to $47.00. They now have a “buy” rating on the stock.
  • 8/1/2018 – Hologic had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $50.00 price target on the stock.
  • 8/1/2018 – Hologic had its price target raised by analysts at Needham & Company LLC from $43.00 to $48.00. They now have a “buy” rating on the stock.
  • 8/1/2018 – Hologic was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/31/2018 – Hologic was upgraded by analysts at TheStreet from a “c” rating to a “b” rating.
  • 7/11/2018 – Hologic was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/3/2018 – Hologic was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “We are disappointed with the decline in Hologic's revenues at the Diagnostics segment. The blood screening divestiture is also likely to impede growth for the company. Further, the company’s lowering of the revenue guidance for fiscal 2018 on reduced sales expectations from the Cynosure business raises concern. However, Hologic outperformed its industry over the past three months. The company seeing growth across all geographical regions buoys optimism. International revenue was particularly robust fueled by strong contribution from Cynosure acquisition.  Buoyed on differentiated products, Breast Health has been performing well. We are upbeat about the recent FDA PMAs for the ThinPrep Integrated Imager and Clarity HD high-resolution 3D imaging and Intelligent 2D imaging technology.”

NASDAQ:HOLX traded up $0.17 during trading hours on Friday, reaching $38.33. 3,666,900 shares of the company were exchanged, compared to its average volume of 2,425,933. The company has a market capitalization of $11.06 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.85 and a beta of 0.74. Hologic, Inc. has a 1-year low of $35.10 and a 1-year high of $45.09. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.29 and a quick ratio of 0.99.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Tuesday, July 31st. The medical equipment provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $800.14 million. Hologic had a positive return on equity of 22.18% and a negative net margin of 2.47%. sell-side analysts anticipate that Hologic, Inc. will post 2.24 EPS for the current fiscal year.

In other Hologic news, insider Peter J. Valenti III sold 10,107 shares of the company’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $38.52, for a total transaction of $389,321.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parnassus Investments CA lifted its stake in Hologic by 3.4% during the second quarter. Parnassus Investments CA now owns 16,241,334 shares of the medical equipment provider’s stock worth $645,593,000 after purchasing an additional 535,745 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Hologic by 5.1% during the second quarter. Victory Capital Management Inc. now owns 5,813,464 shares of the medical equipment provider’s stock worth $231,085,000 after purchasing an additional 282,510 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Hologic by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,301,792 shares of the medical equipment provider’s stock worth $85,995,000 after purchasing an additional 301,278 shares during the last quarter. Partner Fund Management L.P. lifted its stake in Hologic by 20.3% during the second quarter. Partner Fund Management L.P. now owns 1,892,703 shares of the medical equipment provider’s stock worth $75,235,000 after purchasing an additional 319,846 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Hologic by 4.7% during the first quarter. Guggenheim Capital LLC now owns 1,739,642 shares of the medical equipment provider’s stock worth $64,993,000 after purchasing an additional 77,589 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

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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