According to Zacks, “Hologic is suffering from escalating cost pressure which has continued to exert pressure on the company's adjusted operating margin. Also, company operating in a highly competitive landscape is a concern. On a positive note, we are upbeat about the recent product launches like the Omni hysteroscope and Panther Fusion Open Access functionality in the United States, the Panther Fusion Bordetella assay in Europe, and the Surgical hand piece for the TempSure radiofrequency system in North America. Backed by a portfolio of differentiated products, the company’s Breast Health business has been going strong. We are also looking forward to the company's receipt of global approvals for its Omni hysteroscope. Hologic has outperformed its industry over the past year.”
Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Hologic from a “c” rating to a “b” rating in a report on Monday, March 4th. BidaskClub lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Hologic in a research note on Tuesday, April 2nd. ValuEngine raised shares of Hologic from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Finally, BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Hologic in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Hologic presently has a consensus rating of “Hold” and a consensus target price of $44.52.
Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, January 30th. The medical equipment provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $830.70 million for the quarter, compared to analyst estimates of $823.22 million. Hologic had a negative net margin of 12.88% and a positive return on equity of 25.59%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. On average, analysts predict that Hologic will post 2.41 earnings per share for the current year.
In other news, Director Sally Crawford sold 12,306 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $47.61, for a total transaction of $585,888.66. Following the sale, the director now owns 168,886 shares in the company, valued at $8,040,662.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter J. Valenti III sold 4,242 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $47.38, for a total transaction of $200,985.96. The disclosure for this sale can be found here. Insiders have sold 23,378 shares of company stock worth $1,105,836 in the last 90 days. 0.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Hologic during the first quarter valued at approximately $373,000. McGuire Investment Group LLC increased its stake in Hologic by 278.5% in the 4th quarter. McGuire Investment Group LLC now owns 75,655 shares of the medical equipment provider’s stock valued at $3,109,000 after buying an additional 55,668 shares during the period. Teachers Advisors LLC increased its stake in Hologic by 9.7% in the 3rd quarter. Teachers Advisors LLC now owns 503,343 shares of the medical equipment provider’s stock valued at $20,627,000 after buying an additional 44,640 shares during the period. Assenagon Asset Management S.A. acquired a new position in Hologic in the 4th quarter valued at approximately $5,105,000. Finally, Essex Savings Bank acquired a new position in Hologic in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.91% of the company’s stock.
Hologic Company Profile
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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