Hologic (NASDAQ:HOLX) Given “Hold” Rating at Canaccord Genuity

Canaccord Genuity reaffirmed their hold rating on shares of Hologic (NASDAQ:HOLX) in a research report sent to investors on Thursday, AnalystRatings.com reports. They currently have a $52.00 price target on the medical equipment provider’s stock.

“We look for greater evidence for Hologic to find a solution to its declining gross margins and we need more time to get confident that Cynosure has bottomed. Nevertheless, near mid-single-digit growth and effective capital allocation (buybacks and tuck-in deals) are warming us up to the stock as HOLX delivered a 2% top-line beat, 2 cent bottom-line beat, and raised its FY top- and bottom-line guide. That said, its FY’19 raised” revenue is less than the FQ3 $17M beat (FX headwinds being one factor), a consistent trend of setting a low bar for the next reporting quarter and essentially not raising its underlying baseline guide. We reiterate our HOLD, PT to $52. FQ3 beat. (+3.4% rep, +4.7% FXN) exceeded our/Street’s $835ME and adj.”,” the firm’s analyst commented.

A number of other equities analysts also recently commented on HOLX. TheStreet downgraded shares of Hologic from a b rating to a c+ rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of Hologic from a hold rating to a buy rating and set a $46.00 price target on the stock in a research note on Wednesday, May 29th. BidaskClub raised shares of Hologic from a hold rating to a buy rating in a research note on Saturday, July 27th. BTIG Research reissued a buy rating and issued a $52.00 price target on shares of Hologic in a research note on Thursday. Finally, ValuEngine raised shares of Hologic from a hold rating to a buy rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $46.87.

HOLX stock traded down $1.39 during trading on Thursday, reaching $48.86. 39,402 shares of the stock were exchanged, compared to its average volume of 1,961,195. The company has a quick ratio of 1.02, a current ratio of 1.57 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $48.47. Hologic has a 1 year low of $37.47 and a 1 year high of $52.19. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Hologic had a negative net margin of 0.89% and a positive return on equity of 27.95%. The company had revenue of $852.40 million for the quarter, compared to the consensus estimate of $836.91 million. During the same period in the previous year, the firm earned $0.58 earnings per share. Hologic’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Hologic will post 2.43 EPS for the current fiscal year.

In other news, insider Peter J. Valenti III sold 4,545 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.07, for a total value of $200,298.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in shares of Hologic in the second quarter valued at approximately $576,000. Contravisory Investment Management Inc. acquired a new position in shares of Hologic in the first quarter valued at approximately $373,000. Stephens Investment Management Group LLC grew its holdings in shares of Hologic by 0.6% in the first quarter. Stephens Investment Management Group LLC now owns 693,183 shares of the medical equipment provider’s stock valued at $33,550,000 after purchasing an additional 4,176 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Hologic by 17.5% in the first quarter. Toronto Dominion Bank now owns 192,929 shares of the medical equipment provider’s stock valued at $9,336,000 after purchasing an additional 28,706 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Hologic by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 3,805,329 shares of the medical equipment provider’s stock valued at $156,146,000 after purchasing an additional 190,788 shares in the last quarter. 96.30% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What is Net Asset Value (NAV)?

Analyst Recommendations for Hologic (NASDAQ:HOLX)

Receive News & Ratings for Hologic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hologic and related companies with MarketBeat.com's FREE daily email newsletter.