Needham & Company LLC Reiterates Buy Rating for Hologic (NASDAQ:HOLX)

Needham & Company LLC restated their buy rating on shares of Hologic (NASDAQ:HOLX) in a research note published on Wednesday, AnalystRatings.com reports. They currently have a $52.00 price target on the medical equipment provider’s stock.

“FDA’s latest monthly Act (MQSA) statistics were published on 7/1/19. The number of digital breast tomosynthesis (DBT) units increased by 92 during June which represents a 30.8% Y/Y decrease. DBT unit penetration increased to 37.3% from 37.0% last month and facility penetration increased to 62.1% from 61.4% last month. More importantly, DBT units placements were up 2.7% quarter-to-date (QTD) in 2Q19 vs. 2Q18. We note that HOLX’s 3D mammography sales are less than 13% of its total sales. Please contact your Needham salesperson for a copy of our MQSA spreadsheet.”,” Needham & Company LLC’s analyst wrote.

HOLX has been the topic of a number of other research reports. BidaskClub lowered shares of ZIX from a strong-buy rating to a buy rating in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of Hudson Technologies from a sell rating to a hold rating in a research note on Wednesday, May 29th. ValuEngine upgraded shares of China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. BTIG Research upped their price target on shares of Yum! Brands to $114.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, TheStreet lowered shares of ZTO Express (Cayman) from a b+ rating to a c rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Hologic currently has an average rating of Hold and a consensus target price of $45.02.

Hologic stock opened at $47.32 on Wednesday. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.19 and a beta of 0.72. The business’s 50-day moving average price is $47.02. Hologic has a fifty-two week low of $37.47 and a fifty-two week high of $49.78. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 1.31.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Wednesday, May 1st. The medical equipment provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $818.40 million for the quarter, compared to analyst estimates of $806.99 million. Hologic had a negative net margin of 0.32% and a positive return on equity of 26.73%. Hologic’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Sell-side analysts anticipate that Hologic will post 2.42 earnings per share for the current fiscal year.

In other Hologic news, insider Peter J. Valenti III sold 4,545 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $44.07, for a total value of $200,298.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parnassus Investments CA boosted its holdings in Hologic by 0.6% in the 1st quarter. Parnassus Investments CA now owns 15,640,395 shares of the medical equipment provider’s stock valued at $756,995,000 after purchasing an additional 100,833 shares during the period. FMR LLC boosted its holdings in Hologic by 419.2% in the 1st quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock valued at $641,996,000 after purchasing an additional 10,709,693 shares during the period. Geode Capital Management LLC boosted its holdings in Hologic by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 3,805,329 shares of the medical equipment provider’s stock valued at $156,146,000 after purchasing an additional 190,788 shares during the period. Northern Trust Corp boosted its holdings in Hologic by 2.2% in the 1st quarter. Northern Trust Corp now owns 3,276,578 shares of the medical equipment provider’s stock valued at $158,587,000 after purchasing an additional 69,596 shares during the period. Finally, American Century Companies Inc. bought a new stake in Hologic in the 4th quarter valued at about $104,871,000. 96.38% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Hologic (NASDAQ:HOLX)

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