Equities Analysts Offer Predictions for Hologic, Inc.’s Q2 2018 Earnings (HOLX)
Hologic, Inc. (NASDAQ:HOLX) – Jefferies Group decreased their Q2 2018 earnings estimates for shares of Hologic in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Denhoy now expects that the medical equipment provider will earn $0.56 per share for the quarter, down from their prior forecast of $0.57. Jefferies Group has a “Buy” rating and a $49.00 price objective on the stock. Jefferies Group also issued estimates for Hologic’s Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $2.28 EPS, FY2019 earnings at $2.59 EPS and FY2020 earnings at $2.96 EPS.
Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Hologic had a return on equity of 23.18% and a net margin of 25.65%. The business had revenue of $806.10 million for the quarter, compared to analysts’ expectations of $799.70 million. During the same quarter in the prior year, the business earned $0.51 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.
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Several other research analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. (The) cut Hologic from a “conviction-buy” rating to a “buy” rating and cut their price objective for the stock from $48.00 to $47.00 in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating on shares of Hologic in a research report on Friday, July 14th. Canaccord Genuity reissued a “buy” rating and issued a $53.00 price objective on shares of Hologic in a research report on Tuesday, May 9th. Zacks Investment Research cut Hologic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, BTIG Research reissued a “buy” rating and issued a $47.00 price objective on shares of Hologic in a research report on Sunday, May 14th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.64.
Shares of Hologic (HOLX) opened at 39.25 on Monday. The company has a 50-day moving average price of $45.06 and a 200-day moving average price of $42.98. Hologic has a 1-year low of $35.15 and a 1-year high of $46.80. The company has a market cap of $11.01 billion, a PE ratio of 14.62 and a beta of 0.90.
Hedge funds have recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC raised its stake in Hologic by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,993 shares of the medical equipment provider’s stock worth $127,000 after buying an additional 1,408 shares during the last quarter. Advisor Partners LLC bought a new stake in Hologic during the first quarter worth about $201,000. Miles Capital Inc. bought a new stake in Hologic during the first quarter worth about $206,000. Beck Mack & Oliver LLC bought a new stake in Hologic during the second quarter worth about $209,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Hologic during the first quarter worth about $210,000. Institutional investors own 94.46% of the company’s stock.
In related news, insider Peter J. Valenti III sold 10,005 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $43.44, for a total transaction of $434,617.20. Following the sale, the insider now directly owns 20,994 shares in the company, valued at approximately $911,979.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence M. Levy sold 9,076 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $42.80, for a total value of $388,452.80. Following the sale, the director now owns 43,165 shares in the company, valued at $1,847,462. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,562 shares of company stock worth $2,802,013. 0.79% of the stock is currently owned by corporate insiders.
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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