Zacks Investment Research Downgrades Hologic, Inc. (HOLX) to Sell
Hologic, Inc. (NASDAQ:HOLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Hologic is optimistic about the recent commercial launch of the Brevera breast biopsy system in the United States. Hologic’s third-quarter 2017 performance was quite promising with revenues and earnings beating the estimates. 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. 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 research analysts have also recently commented on the stock. Goldman Sachs Group, Inc. (The) cut shares of Hologic from a “conviction-buy” rating to a “buy” rating and cut their price target for the stock from $48.00 to $47.00 in a research note on Thursday, August 3rd. Stifel Nicolaus restated 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 report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of Hologic in a report on Wednesday, June 28th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $48.00 price objective (up previously from $44.00) on shares of Hologic in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.38.
Hologic (HOLX) traded up 0.251% during trading on Tuesday, hitting $37.875. The stock had a trading volume of 725,246 shares. Hologic has a 52 week low of $35.15 and a 52 week high of $46.80. The stock has a 50-day moving average price of $37.79 and a 200-day moving average price of $42.16. The company has a market cap of $10.62 billion, a PE ratio of 14.106 and a beta of 0.91.
Hologic (NASDAQ:HOLX) last announced 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 firm had revenue of $806.10 million during 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%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts predict that Hologic will post $2.01 EPS for the current year.
In other Hologic news, Director Elaine Ullian sold 6,902 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,810 shares of the company’s stock, valued at $955,257.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence M. Levy sold 7,139 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.04, for a total transaction of $278,706.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,745 shares of company stock worth $768,189. Insiders own 0.79% of the company’s stock.
A number of hedge funds have recently made changes to their positions in HOLX. Stratos Wealth Partners LTD. boosted its position in shares of Hologic by 0.6% during the second quarter. Stratos Wealth Partners LTD. now owns 4,954 shares of the medical equipment provider’s stock worth $225,000 after purchasing an additional 30 shares in the last quarter. Cleararc Capital Inc. boosted its position in shares of Hologic by 1.1% during the first quarter. Cleararc Capital Inc. now owns 6,843 shares of the medical equipment provider’s stock worth $291,000 after purchasing an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Hologic by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,803 shares of the medical equipment provider’s stock worth $944,000 after purchasing an additional 85 shares in the last quarter. Symphony Asset Management LLC boosted its position in shares of Hologic by 0.4% during the second quarter. Symphony Asset Management LLC now owns 28,005 shares of the medical equipment provider’s stock worth $1,271,000 after purchasing an additional 108 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of Hologic by 0.4% during the first quarter. Advantus Capital Management Inc now owns 27,936 shares of the medical equipment provider’s stock worth $1,189,000 after purchasing an additional 116 shares in the last quarter. 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.
Receive News & Stock Ratings for Hologic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hologic Inc. and related stocks with our FREE daily email newsletter.