Hologic Upgraded by ISI Group to “Strong-Buy” (HOLX)
Hologic (NASDAQ:HOLX) was upgraded by research analysts at ISI Group from a “buy” rating to a “strong-buy” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $25.50 price objective on the stock, up from their previous price objective of $25.00. ISI Group’s target price indicates a potential upside of 27.06% from the company’s current price.
The analysts wrote, “Hologic’s strategic decision to diversify its revenue base via acquisitions hasn’t quite worked out, with poor capital returns and structural issues resulting in massive (~$5 Bn) capital destruction for long term shareholders. Shares have become increasingly volatile, with the Bears pointing to structural challenges in ThinPrep and Novasure, and reimbursement delays for 3D Tomo. The Bulls received a shot in the arm with the recent changes in management (new CEO, CFO off the Board, aligning management incentive to ROIC), against a backdrop of diagnostic share gains (highlighted by recent Quest Lab win) and upside from 3D Tomo in the longer term. We believe that HOLX is coming to a tipping point, with the Board looking to rectify a multi-year underperformance.”
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Hologic (NASDAQ:HOLX) in a research note to investors on Wednesday, September 18th. They now have a $22.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Hologic (NASDAQ:HOLX) to a “hold” rating in a research note to investors on Tuesday, September 17th. Finally, analysts at Raymond James downgraded shares of Hologic (NASDAQ:HOLX) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, September 11th. They now have a $23.00 price target on the stock.
One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $23.88.
Shares of Hologic (NASDAQ:HOLX) traded up 1.49% during mid-day trading on Tuesday, hitting $20.37. 1,756,265 shares of the company’s stock traded hands. Hologic has a 52 week low of $18.46 and a 52 week high of $23.96. The stock has a 50-day moving average of $21.69 and a 200-day moving average of $21.24. The company’s market cap is $5.509 billion.
Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $626.10 million for the quarter, compared to the consensus estimate of $627.05 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 33.2% on a year-over-year basis. On average, analysts predict that Hologic will post $1.48 earnings per share for the current fiscal year.
In other Hologic news, CFO Glenn Muir unloaded 28,000 shares of the stock on the open market in a transaction dated Monday, September 16th. The shares were sold at an average price of $20.45, for a total value of $572,600.00. Following the sale, the chief financial officer now directly owns 825,891 shares of the company’s stock, valued at approximately $16,889,471. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products to serving the healthcare needs of women.
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