Zacks Investment Research lowered shares of Hologic, Inc. (NASDAQ:HOLX) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “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. On a positive note, 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.”
A number of other equities analysts also recently weighed in on HOLX. Royal Bank Of Canada restated a sector perform rating and issued a $45.00 target price (down previously from $50.00) on shares of Hologic in a research note on Wednesday, August 9th. BidaskClub downgraded Hologic from a hold rating to a sell rating in a research note on Wednesday, August 9th. Barclays PLC restated an equal weight rating and issued a $51.00 target price (down previously from $53.00) on shares of Hologic in a research note on Wednesday, August 9th. Needham & Company LLC restated a buy rating on shares of Hologic in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a buy rating and issued a $51.00 target price on shares of Hologic in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $47.77.
Hologic (HOLX) traded down 0.19% on Tuesday, hitting $37.01. The stock had a trading volume of 2,340,233 shares. Hologic has a 52 week low of $35.15 and a 52 week high of $46.80. The company has a 50-day moving average price of $37.48 and a 200-day moving average price of $41.68. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 13.78 and a beta of 0.91.
Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Hologic had a return on equity of 23.18% and a net margin of 25.65%. The business had revenue of $806.10 million during the quarter, compared to the consensus estimate of $799.70 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Hologic will post $2.01 earnings per share for the current fiscal year.
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In related news, Director Lawrence M. Levy sold 7,139 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.04, for a total value of $278,706.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lawrence M. Levy sold 9,596 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $36.81, for a total value of $353,228.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,775 shares of company stock worth $1,175,662. 0.79% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Hall Laurie J Trustee raised its holdings in Hologic by 10.2% during the 2nd quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock valued at $110,000 after acquiring an additional 225 shares during the period. Commonwealth Bank of Australia raised its holdings in Hologic by 31.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock valued at $114,000 after acquiring an additional 600 shares during the period. National Asset Management Inc. bought a new stake in Hologic during the 2nd quarter valued at $203,000. Beck Mack & Oliver LLC bought a new stake in Hologic during the 2nd quarter valued at $209,000. Finally, Notis McConarty Edward bought a new stake in Hologic during the 2nd quarter valued at $213,000. 96.38% of the stock is currently owned by institutional investors and hedge funds.
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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