Hologic (HOLX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Hologic exited the second quarter of fiscal 2019 on a solid note. The strong top-line growth was led by solid year-over-year rise in core businesses like Breast Health and Molecular Diagnostics. We are also upbeat about the recent launches like Aptima Mycoplasma genitalium assay and the Unifi Analytics business intelligence tool for mammography centers in the United States, Omnhysteroscope in Europe and Canada, and LOCalize wireless breast lesion localization system in Europe. Hologic has outperformed its industry over the past three months. On the flip side, Hologic's Faxitron and Focal integration related costs are mounting. These have continued to exert pressure on the company's operating margin. This apart volume environment for testing laboratories and utilization weaknesses are looming headwinds. Also, the company operating in a highly competitive landscape is a concern.”

Several other brokerages have also commented on HOLX. ValuEngine lowered Hologic from a buy rating to a hold rating in a research note on Tuesday, April 16th. Piper Jaffray Companies raised their price target on Hologic to $49.00 and gave the company an overweight rating in a research note on Thursday, January 31st. TheStreet lowered Hologic from a b rating to a c+ rating in a research note on Wednesday, May 1st. BidaskClub lowered Hologic from a buy rating to a hold rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC restated a buy rating and set a $50.00 price target (up previously from $48.00) on shares of Hologic in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Hologic has an average rating of Hold and an average target price of $45.41.

Shares of Hologic stock opened at $44.87 on Wednesday. The firm has a market cap of $12.03 billion, a PE ratio of 20.12, a PEG ratio of 2.07 and a beta of 0.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.02 and a current ratio of 1.45. Hologic has a 12 month low of $37.47 and a 12 month high of $48.82.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, May 1st. The medical equipment provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $818.40 million for the quarter, compared to analyst estimates of $806.99 million. Hologic had a positive return on equity of 26.73% and a negative net margin of 0.32%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Hologic will post 2.42 earnings per share for the current year.

In other Hologic news, Director Sally Crawford sold 12,306 shares of Hologic stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $47.61, for a total value of $585,888.66. Following the transaction, the director now owns 168,886 shares in the company, valued at $8,040,662.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter J. Valenti III sold 4,242 shares of Hologic stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $47.38, for a total value of $200,985.96. The disclosure for this sale can be found here. Insiders sold 23,378 shares of company stock worth $1,105,836 in the last quarter. 0.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HOLX. Contravisory Investment Management Inc. acquired a new stake in Hologic in the first quarter worth about $373,000. McGuire Investment Group LLC boosted its holdings in Hologic by 278.5% in the fourth quarter. McGuire Investment Group LLC now owns 75,655 shares of the medical equipment provider’s stock worth $3,109,000 after acquiring an additional 55,668 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Hologic in the fourth quarter worth about $5,105,000. Essex Savings Bank acquired a new stake in Hologic in the fourth quarter worth about $37,000. Finally, Mesirow Financial Investment Management Equity Management boosted its holdings in Hologic by 19.3% in the fourth quarter. Mesirow Financial Investment Management Equity Management now owns 38,555 shares of the medical equipment provider’s stock worth $1,585,000 after acquiring an additional 6,240 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

Hologic Company Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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