Hologic, Inc. (HOLX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Hologic, Inc. (NASDAQ:HOLX) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “Hologic witnessed a lackluster performance at its Diagnostics segment in the last reported quarter. 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, the company has been registering strong top line growth in recent times driven by strength in molecular diagnostics, GYN Surgical and Breast Health businesses. The company's raised guidance for fiscal 2017 indicates that this growth momentum should continie through rest of the year.  In fact, the recent European approval for the company's new Panther system should boost growth in the coming quarter. For the last three months, Hologic has been trading above the broader Medical Instruments industry in terms of price. Hologic’s strong cash position is another encouraging factor.”

HOLX has been the topic of a number of other reports. Barclays PLC set a $50.00 target price on Hologic and gave the stock a buy rating in a report on Wednesday, April 5th. Needham & Company LLC boosted their target price on Hologic from $46.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, April 4th. Jefferies Group LLC reissued a buy rating and set a $49.00 target price on shares of Hologic in a report on Wednesday, June 28th. Canaccord Genuity reissued a buy rating and set a $53.00 target price on shares of Hologic in a report on Tuesday, May 9th. Finally, BTIG Research reissued a buy rating and set a $47.00 target price on shares of Hologic in a report on Sunday, May 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $47.36.

Hologic (HOLX) traded down 1.24% during midday trading on Wednesday, hitting $44.61. The stock had a trading volume of 2,992,880 shares. The firm has a 50-day moving average price of $44.35 and a 200-day moving average price of $42.22. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 15.99 and a beta of 0.91. Hologic has a 1-year low of $35.15 and a 1-year high of $46.80.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, May 10th. The medical equipment provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $715.40 million for the quarter, compared to analyst estimates of $685.24 million. Hologic had a return on equity of 25.26% and a net margin of 27.31%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities research analysts anticipate that Hologic will post $2.01 earnings per share for the current year.

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In other news, Director Sally Crawford sold 16,969 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $44.00, for a total transaction of $746,636.00. Following the completion of the sale, the director now directly owns 157,305 shares in the company, valued at approximately $6,921,420. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elaine Ullian sold 8,849 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $45.28, for a total value of $400,682.72. Following the sale, the director now owns 23,810 shares of the company’s stock, valued at $1,078,116.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,240 shares of company stock valued at $4,716,859. Corporate insiders own 0.79% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HOLX. Ardevora Asset Management LLP increased its stake in Hologic by 8.3% in the second quarter. Ardevora Asset Management LLP now owns 783,800 shares of the medical equipment provider’s stock worth $35,569,000 after buying an additional 59,800 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Hologic by 595.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 46,443 shares of the medical equipment provider’s stock worth $2,108,000 after buying an additional 39,765 shares during the last quarter. National Pension Service increased its stake in Hologic by 9.8% in the second quarter. National Pension Service now owns 268,334 shares of the medical equipment provider’s stock worth $12,204,000 after buying an additional 24,049 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Hologic by 53.4% in the second quarter. State of Alaska Department of Revenue now owns 19,132 shares of the medical equipment provider’s stock worth $868,000 after buying an additional 6,660 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Hologic by 411.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,477 shares of the medical equipment provider’s stock worth $430,000 after buying an additional 7,625 shares during the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.

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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