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

Hologic (NASDAQ:HOLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, 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.”

A number of other research analysts have also commented on the company. TheStreet upgraded Hologic from a “c” rating to a “b” rating in a research note on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Hologic in a report on Tuesday, April 2nd. Piper Jaffray Companies raised their price target on Hologic to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 31st. BidaskClub lowered Hologic from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $50.00 price target on shares of Hologic in a report on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.41.

Shares of NASDAQ HOLX traded down $0.02 during trading hours on Wednesday, reaching $44.89. The stock had a trading volume of 42,342 shares, compared to its average volume of 1,500,301. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.06 and a beta of 0.71. Hologic has a twelve month low of $37.47 and a twelve month high of $48.82.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, May 1st. The medical equipment provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $818.40 million during 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%. Hologic’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, research analysts anticipate that Hologic will post 2.42 earnings per share for the current fiscal year.

In other Hologic news, Director Sally Crawford sold 12,306 shares of Hologic stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $47.61, for a total transaction of $585,888.66. Following the sale, the director now directly owns 168,886 shares of the company’s stock, valued at approximately $8,040,662.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter J. Valenti III sold 4,242 shares of Hologic stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 23,378 shares of company stock worth $1,105,836. 0.90% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of HOLX. American Century Companies Inc. acquired a new position in Hologic in the 4th quarter valued at about $104,871,000. Norges Bank bought a new stake in shares of Hologic in the 4th quarter valued at approximately $75,662,000. Oregon Public Employees Retirement Fund grew its stake in shares of Hologic by 3,960.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,222,766 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 1,192,649 shares in the last quarter. Janus Henderson Group PLC boosted its position in Hologic by 1,210.3% during the first quarter. Janus Henderson Group PLC now owns 916,994 shares of the medical equipment provider’s stock worth $44,382,000 after purchasing an additional 847,011 shares during the period. Finally, Bank of Montreal Can boosted its position in Hologic by 230.9% during the first quarter. Bank of Montreal Can now owns 1,089,553 shares of the medical equipment provider’s stock worth $52,734,000 after purchasing an additional 760,312 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

About Hologic

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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