Zacks Investment Research upgraded shares of Hologic, Inc. (NASDAQ:HOLX) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Hologic’s third-quarter 2017 performance was quite promising with revenues and earnings beating the Zacks Consensus Estimate. The company’s top-line growth was led by strength in the molecular diagnostics and GYN Surgical businesses. Moreover, sales were driven by the company’s recent receipt of CE mark for its new Panther Fusion system and Panther Fusion assays for flu and respiratory testing. Also, the company’s strong cash position is another encouraging factor. On the flip side, Hologic has been trading below the broader industry over the last six months. Moreover, the lowered guidance suggests dull prospects. Furthermore, the blood screening divestiture is expected to impede the company’s growth momentum in the days ahead. Foreign currency headwinds and a competitive landscape also continue to pose challenges.”
A number of other brokerages have also commented on HOLX. Royal Bank Of Canada cut their price target on shares of Hologic from $50.00 to $45.00 and set a sector perform rating on the stock in a report on Thursday. Deutsche Bank AG cut their price target on shares of Hologic from $51.00 to $49.00 and set a buy rating on the stock in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Hologic from $45.00 to $48.00 and gave the stock a buy rating in a report on Thursday, May 11th. Barclays PLC cut their price target on shares of Hologic from $53.00 to $51.00 and set an overweight rating on the stock in a report on Thursday. Finally, Piper Jaffray Companies reiterated a buy rating and set a $51.00 price target on shares of Hologic in a report on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $48.64.
Shares of Hologic (NASDAQ HOLX) traded down 0.56% during mid-day trading on Friday, hitting $39.03. 3,981,889 shares of the company’s stock traded hands. The firm has a 50-day moving average of $45.06 and a 200 day moving average of $42.98. Hologic has a 52 week low of $35.15 and a 52 week high of $46.80. The company has a market cap of $10.95 billion, a PE ratio of 14.54 and a beta of 0.90.
Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $806.10 million for the quarter, compared to analyst estimates of $799.70 million. Hologic had a net margin of 25.65% and a return on equity of 23.18%. Hologic’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities research analysts predict that Hologic will post $2.01 EPS for the current year.
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In other Hologic news, Director Lawrence M. Levy sold 9,076 shares of Hologic stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $42.80, for a total value of $388,452.80. Following the completion of the sale, the director now directly owns 43,165 shares of the company’s stock, valued at $1,847,462. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter J. Valenti III sold 10,005 shares of Hologic stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.44, for a total transaction of $434,617.20. Following the completion of the sale, the insider now directly owns 20,994 shares of the company’s stock, valued at $911,979.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,562 shares of company stock valued at $2,802,013. Insiders own 0.79% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC increased its stake in Hologic by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,993 shares of the medical equipment provider’s stock valued at $127,000 after buying an additional 1,408 shares during the period. Beck Mack & Oliver LLC bought a new stake in Hologic during the second quarter valued at $209,000. Notis McConarty Edward bought a new stake in Hologic during the second quarter valued at $213,000. Advisor Partners LLC bought a new stake in Hologic during the first quarter valued at $201,000. Finally, CAPROCK Group Inc. bought a new stake in Hologic during the second quarter valued at $214,000. 94.46% of the stock is 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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