According to Zacks, “We are upbeat about Hologic's 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. 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.”
Other equities research analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Hologic in a research report on Tuesday, April 2nd. BidaskClub lowered Hologic from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies raised their price target on Hologic to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 31st. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Hologic in a research report on Thursday, January 31st. Finally, Morgan Stanley lowered Hologic from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $44.00 to $39.00 in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Hologic has an average rating of “Hold” and a consensus price target of $44.62.
Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, January 30th. The medical equipment provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $830.70 million for the quarter, compared to analyst estimates of $823.22 million. Hologic had a positive return on equity of 25.59% and a negative net margin of 12.88%. Hologic’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. Equities analysts anticipate that Hologic will post 2.41 EPS for the current year.
In other Hologic news, Director Sally Crawford sold 12,306 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $47.61, for a total value of $585,888.66. Following the completion of the transaction, the director now directly owns 168,886 shares in the company, valued at $8,040,662.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter J. Valenti III sold 4,242 shares of the firm’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 value of $200,985.96. The disclosure for this sale can be found here. In the last three months, insiders sold 23,378 shares of company stock worth $1,105,836. 0.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of HOLX. American Century Companies Inc. bought a new position in Hologic in the fourth quarter valued at approximately $104,871,000. Norges Bank bought a new position in Hologic in the fourth quarter valued at approximately $75,662,000. Oregon Public Employees Retirement Fund grew its stake in Hologic by 3,960.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,222,766 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 1,192,649 shares in the last quarter. State of Tennessee Treasury Department grew its stake in Hologic by 338.4% in the fourth quarter. State of Tennessee Treasury Department now owns 699,514 shares of the medical equipment provider’s stock valued at $28,750,000 after purchasing an additional 539,968 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Hologic by 1.1% in the third quarter. Vanguard Group Inc now owns 28,259,273 shares of the medical equipment provider’s stock valued at $1,158,065,000 after purchasing an additional 303,902 shares in the last quarter. Hedge funds and other institutional investors 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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