Hologic (HOLX) Earns Buy Rating from Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report released on Friday. They presently have a $50.00 price target on the medical equipment provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 28.87% from the stock’s current price.

The analysts wrote, “HOLX’s F1Q18 revenue was consistent with its 1/8/18 preannouncement while its EPS beat consensus. Management reiterated its FY18 revenue guidance and raised its EPS guidance due to tax reform. We note that HOLX expects to reinvest about half of its tax savings in marketing campaigns and R&D. HOLX’s organic revenue growth increased to 4.9% (adjusted for selling days) in F1Q18 from 4.4% in F4Q17. Breast Health growth improved from last quarter driven by the stronger international sales while Diagnostics growth (excluding the Blood divestiture) slowed. We expect HOLX’s revenue growth to accelerate as its Aesthetics business returns to Y/Y growth and it faces easier comps and we reiterate our Buy rating.””

A number of other equities research analysts have also recently commented on HOLX. Stifel Nicolaus cut Hologic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $42.00 in a research note on Friday. BidaskClub cut Hologic from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Deutsche Bank cut Hologic from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, January 19th. Evercore ISI assumed coverage on Hologic in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $48.00 price objective on shares of Hologic in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Hologic has a consensus rating of “Buy” and a consensus price target of $48.57.

Shares of Hologic (HOLX) opened at $38.80 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 0.79. Hologic has a one year low of $35.76 and a one year high of $46.80. The company has a market capitalization of $11,693.59, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.89 and a beta of 0.77.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. Hologic had a return on equity of 21.69% and a net margin of 24.70%. The firm had revenue of $791.10 million during the quarter, compared to analysts’ expectations of $785.80 million. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities research analysts expect that Hologic will post 2.18 EPS for the current fiscal year.

In other news, Director Elaine Ullian sold 9,282 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $40.50, for a total value of $375,921.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Karleen Marie Oberton sold 1,023 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $39.84, for a total value of $40,756.32. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of HOLX. Employees Retirement System of Texas lifted its holdings in shares of Hologic by 80.0% in the second quarter. Employees Retirement System of Texas now owns 18,000 shares of the medical equipment provider’s stock valued at $817,000 after purchasing an additional 8,000 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Hologic by 556.0% in the second quarter. Janus Henderson Group PLC now owns 246,752 shares of the medical equipment provider’s stock valued at $11,197,000 after purchasing an additional 209,138 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Hologic during the second quarter worth $1,870,000. Cubist Systematic Strategies LLC bought a new stake in Hologic during the second quarter worth $635,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Hologic during the second quarter worth $1,043,000. Institutional investors own 92.77% of the company’s stock.

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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.

Analyst Recommendations for Hologic (NASDAQ:HOLX)

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