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 report released on Wednesday, AnalystRatings.com reports. The firm currently has 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 commented.

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

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

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

In related news, insider Peter J. Valenti III sold 4,545 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.07, for a total transaction of $200,298.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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

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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