Needham & Company LLC reaffirmed their buy rating on shares of Hologic, Inc. (NASDAQ:HOLX) in a research report sent to investors on Tuesday, August 1st.
“FDA’s latest monthly Mammography Quality Standards Act (MQSA) statistics were published on 8/1/17. The number of digital breast tomosynthesis (DBT) units increased by 106 during July which represents a (2.8%) Y/ Y decrease and a 2.2% sequential increase. DBT unit penetration increased to 27.4% from 27.0% last month and facility penetration increased to 40.8% from 40.0% last month. While this is a bit of an improvement from last month, the MQSA data seems to indicate that the slower Breast Imaging growth seen in F2Q17 has continued. We note that HOLX’s 3D mammography sales are less than 13% of its sales.”,” Needham & Company LLC’s analyst wrote.
Several other research firms have also recently issued reports on HOLX. Stifel Nicolaus increased their target price on shares of Hologic from $45.00 to $48.00 and gave the stock a buy rating in a research note on Thursday, May 11th. Jefferies Group LLC reiterated a buy rating and issued a $49.00 target price on shares of Hologic in a research note on Wednesday, June 28th. Bank of America Corporation reiterated a neutral rating and issued a $48.00 target price (up from $44.00) on shares of Hologic in a research note on Friday, July 21st. Canaccord Genuity reiterated a buy rating and issued a $53.00 target price on shares of Hologic in a research note on Tuesday, May 9th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $51.00 target price on shares of Hologic in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Hologic presently has a consensus rating of Buy and an average price target of $48.64.
Shares of Hologic (HOLX) traded down 1.40% on Tuesday, hitting $37.42. 3,632,428 shares of the stock traded hands. Hologic has a 52 week low of $35.15 and a 52 week high of $46.80. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 13.94 and a beta of 0.90. The stock has a 50 day moving average price of $42.62 and a 200-day moving average price of $42.82.
Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $806.10 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.51 EPS. On average, equities research analysts forecast that Hologic will post $2.01 EPS for the current year.
In related news, VP Karleen Marie Oberton sold 4,704 shares of Hologic stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $45.19, for a total transaction of $212,573.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elaine Ullian sold 8,938 shares of Hologic stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $43.99, for a total transaction of $393,182.62. Following the transaction, the director now directly owns 23,810 shares of the company’s stock, valued at $1,047,401.90. The disclosure for this sale can be found here. In the last three months, insiders sold 51,551 shares of company stock worth $2,244,458. Insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia boosted its position in shares of Hologic by 31.0% in the second quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock worth $114,000 after buying an additional 600 shares during the period. TrimTabs Asset Management LLC boosted its position in shares of Hologic by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,993 shares of the medical equipment provider’s stock worth $127,000 after buying an additional 1,408 shares during the period. Advisor Partners LLC acquired a new position in shares of Hologic during the first quarter worth about $201,000. National Asset Management Inc. acquired a new position in shares of Hologic during the second quarter worth about $203,000. Finally, Miles Capital Inc. acquired a new position in shares of Hologic during the first quarter worth about $206,000. 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.
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