Q2 2019 EPS Estimates for Hologic, Inc. Decreased by Piper Jaffray Companies (NASDAQ:HOLX)

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Hologic, Inc. (NASDAQ:HOLX) – Analysts at Piper Jaffray Companies cut their Q2 2019 earnings per share (EPS) estimates for Hologic in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. Piper Jaffray Companies analyst W. Quirk now expects that the medical equipment provider will earn $0.61 per share for the quarter, down from their prior forecast of $0.62. Piper Jaffray Companies has a “Overweight” rating and a $45.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Hologic’s FY2019 earnings at $2.57 EPS and FY2020 earnings at $2.84 EPS.

Several other equities analysts have also issued reports on HOLX. Deutsche Bank boosted their price target on shares of Hologic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. BidaskClub lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 25th. Cowen reissued a “buy” rating and issued a $45.00 price target on shares of Hologic in a report on Wednesday, August 1st. Canaccord Genuity reissued a “hold” rating and issued a $43.00 price target on shares of Hologic in a report on Thursday. Finally, TheStreet raised shares of Hologic from a “c” rating to a “b” rating in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.41.

HOLX traded down $0.68 during trading on Wednesday, reaching $41.78. 2,607,170 shares of the company’s stock were exchanged, compared to its average volume of 1,970,584. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.99 and a current ratio of 1.29. Hologic has a fifty-two week low of $35.10 and a fifty-two week high of $45.09. The firm has a market capitalization of $11.23 billion, a PE ratio of 18.74, a P/E/G ratio of 1.88 and a beta of 0.65.

Hologic (NASDAQ:HOLX) last released its earnings results on Wednesday, November 7th. The medical equipment provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Hologic had a positive return on equity of 22.93% and a negative net margin of 3.46%. The business had revenue of $813.50 million for the quarter, compared to analyst estimates of $808.63 million. During the same period in the prior year, the firm posted $0.50 EPS. Hologic’s revenue was up 1.3% on a year-over-year basis.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in Hologic by 0.9% during the 3rd quarter. BlackRock Inc. now owns 18,773,720 shares of the medical equipment provider’s stock worth $769,349,000 after buying an additional 164,937 shares in the last quarter. Parnassus Investments CA raised its holdings in shares of Hologic by 3.4% in the 2nd quarter. Parnassus Investments CA now owns 16,241,334 shares of the medical equipment provider’s stock valued at $645,593,000 after purchasing an additional 535,745 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Hologic by 5.1% in the 2nd quarter. Victory Capital Management Inc. now owns 5,813,464 shares of the medical equipment provider’s stock valued at $231,085,000 after purchasing an additional 282,510 shares during the period. FMR LLC raised its holdings in shares of Hologic by 6.4% in the 3rd quarter. FMR LLC now owns 2,438,184 shares of the medical equipment provider’s stock valued at $99,916,000 after purchasing an additional 146,726 shares during the period. Finally, Partner Fund Management L.P. raised its holdings in shares of Hologic by 20.3% in the 2nd quarter. Partner Fund Management L.P. now owns 1,892,703 shares of the medical equipment provider’s stock valued at $75,235,000 after purchasing an additional 319,846 shares during the period. 98.74% of the stock is currently owned by hedge funds and other institutional investors.

In other Hologic news, Director Sally Crawford sold 13,257 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $39.54, for a total transaction of $524,181.78. Following the sale, the director now directly owns 167,701 shares of the company’s stock, valued at approximately $6,630,897.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christiana Stamoulis sold 30,967 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $40.70, for a total transaction of $1,260,356.90. Following the sale, the director now directly owns 66,006 shares in the company, valued at $2,686,444.20. The disclosure for this sale can be found here. Insiders sold a total of 49,519 shares of company stock worth $2,003,965 over the last ninety days. 0.79% of the stock is currently owned by insiders.

About Hologic

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

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