Hologic’s (HOLX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $52.00 price objective 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.

Other research analysts also recently issued reports about the company. ValuEngine raised China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. TheStreet downgraded ZTO Express (Cayman) from a b+ rating to a c rating in a research note on Wednesday, May 1st. Zacks Investment Research raised Hudson Technologies from a sell rating to a hold rating in a research note on Wednesday, May 29th. BidaskClub downgraded ZIX from a strong-buy rating to a buy rating in a research note on Friday, June 7th. Finally, BTIG Research increased their price objective on Yum! Brands to $114.00 and gave the company a buy rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $45.02.

Shares of HOLX stock traded down $0.20 during trading hours on Wednesday, hitting $47.62. 3,845,442 shares of the company’s stock were exchanged, compared to its average volume of 1,770,405. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 2.22 and a beta of 0.72. The business’s 50 day moving average price is $46.97. Hologic has a fifty-two week low of $37.47 and a fifty-two week high of $49.78.

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

In other Hologic news, insider Peter J. Valenti III sold 4,545 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $44.07, for a total value of $200,298.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Hologic by 9.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 92,228 shares of the medical equipment provider’s stock worth $3,791,000 after buying an additional 8,061 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Hologic by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,166,835 shares of the medical equipment provider’s stock worth $89,051,000 after buying an additional 8,284 shares during the period. Natixis Advisors L.P. increased its position in shares of Hologic by 18.0% during the fourth quarter. Natixis Advisors L.P. now owns 131,087 shares of the medical equipment provider’s stock worth $5,387,000 after buying an additional 19,982 shares during the period. Kinneret Advisory LLC acquired a new stake in shares of Hologic during the fourth quarter worth $289,000. Finally, Geode Capital Management LLC increased its position in shares of 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 buying an additional 190,788 shares during the period. Institutional investors own 96.38% 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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Analyst Recommendations for Hologic (NASDAQ:HOLX)

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