Hologic, Inc. (HOLX) Given Buy Rating at Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Hologic, Inc. (NASDAQ:HOLX) in a research note released on Monday morning. They currently have a $50.00 target price on the medical equipment provider’s stock.
“FDA’s latest monthly Mammography Quality Standards Act (MQSA) statistics were published on 10/2/17. The number of digital breast tomosynthesis (DBT) units increased by 118 during September which represents a (4.1%) Y/Y decrease. DBT unit penetration increased to 28.5% from 28.0% last month and facility penetration increased to 42.8% from 42.0% last month. More importantly, DBT units placements were up 5.9% in F4Q17 vs. F4Q16. Based on this, we think that HOLX’s Breast Health business could see improved growth in F4Q17.”,” the firm’s analyst wrote.
Several other analysts have also weighed in on HOLX. Goldman Sachs Group, Inc. (The) lowered shares of Hologic from a conviction-buy rating to a buy rating and lowered their price objective for the company from $48.00 to $47.00 in a research note on Thursday, August 3rd. Stifel Nicolaus reissued a buy rating on shares of Hologic in a research note on Friday, July 14th. BidaskClub lowered shares of Hologic from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Hologic from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a buy rating and issued a $49.00 price target on shares of Hologic in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $48.43.
Shares of Hologic (HOLX) opened at 37.24 on Monday. Hologic has a 12 month low of $35.15 and a 12 month high of $46.80. The company has a market cap of $10.44 billion, a P/E ratio of 13.87 and a beta of 0.91. The stock’s 50 day moving average is $37.82 and its 200 day moving average is $42.23.
Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Hologic had a return on equity of 23.18% and a net margin of 25.65%. The business had revenue of $806.10 million during the quarter, compared to the consensus estimate of $799.70 million. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts anticipate that Hologic will post $2.01 EPS for the current fiscal year.
In related news, Director Lawrence M. Levy sold 7,139 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $39.04, for a total value of $278,706.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elaine Ullian sold 6,902 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $40.12, for a total value of $276,908.24. Following the completion of the sale, the director now directly owns 23,810 shares of the company’s stock, valued at $955,257.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,745 shares of company stock worth $768,189. 0.79% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of HOLX. Hall Laurie J Trustee raised its holdings in shares of Hologic by 10.2% in the second quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock valued at $110,000 after purchasing an additional 225 shares during the last quarter. Commonwealth Bank of Australia lifted its position in shares of Hologic by 31.0% during the second quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock valued at $114,000 after purchasing an additional 600 shares in the last quarter. National Asset Management Inc. bought a new position in shares of Hologic during the second quarter valued at about $203,000. Beck Mack & Oliver LLC bought a new position in shares of Hologic during the second quarter valued at about $209,000. Finally, Notis McConarty Edward bought a new position in shares of Hologic during the second quarter valued at about $213,000. 96.38% of the stock is currently owned by hedge funds and other institutional investors.
Hologic Company Profile
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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