Hologic, Inc. (HOLX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hologic, Inc. (NASDAQ:HOLX) from a sell rating to a hold rating in a report published on Friday, August 4th.

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.”

Several other research firms have also commented on HOLX. Royal Bank Of Canada lowered their price target on shares of Hologic from $50.00 to $45.00 and set a sector perform rating on the stock in a research report on Thursday, August 3rd. Deutsche Bank AG lowered their price target on shares of Hologic from $51.00 to $49.00 and set a buy rating on the stock in a research report on Thursday, August 3rd. Stifel Nicolaus increased their price target on shares of Hologic from $45.00 to $48.00 and gave the company a buy rating in a research report on Thursday, May 11th. Piper Jaffray Companies reiterated a buy rating and issued a $51.00 price target on shares of Hologic in a research report on Friday, July 14th. Finally, Barclays PLC lowered their price target on shares of Hologic from $53.00 to $51.00 and set an overweight rating on the stock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $48.64.

Shares of Hologic (HOLX) traded down 0.68% during midday trading on Friday, reaching $37.95. The company’s stock had a trading volume of 3,971,920 shares. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 14.13 and a beta of 0.90. Hologic has a 52 week low of $35.15 and a 52 week high of $46.80. The company has a 50 day moving average of $43.08 and a 200-day moving average of $42.88.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. The business 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%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. Equities research analysts predict that Hologic will post $2.01 earnings per share for the current year.

In other Hologic news, VP Karleen Marie Oberton sold 4,704 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $45.19, for a total transaction of $212,573.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Elaine Ullian sold 6,902 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $40.12, for a total transaction 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 approximately $955,257.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,551 shares of company stock worth $2,244,458. 0.79% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd raised its stake in Hologic by 528.2% in the second quarter. WINTON GROUP Ltd now owns 39,730 shares of the medical equipment provider’s stock valued at $1,803,000 after buying an additional 33,406 shares during the last quarter. North Star Asset Management Inc. raised its stake in Hologic by 3.3% in the second quarter. North Star Asset Management Inc. now owns 169,476 shares of the medical equipment provider’s stock valued at $7,691,000 after buying an additional 5,405 shares during the last quarter. Koch Industries Inc. raised its stake in Hologic by 15,554.1% in the second quarter. Koch Industries Inc. now owns 1,149,481 shares of the medical equipment provider’s stock valued at $1,125,000 after buying an additional 1,142,138 shares during the last quarter. National Asset Management Inc. acquired a new stake in Hologic during the second quarter valued at about $203,000. Finally, Nomura Holdings Inc. raised its stake in Hologic by 267.4% in the second quarter. Nomura Holdings Inc. now owns 33,340 shares of the medical equipment provider’s stock valued at $1,514,000 after buying an additional 24,265 shares during the last quarter. 94.43% of the stock is owned by 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.

Get a free copy of the Zacks research report on Hologic (HOLX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com