Equities Analysts Issue Forecasts for Hologic, Inc.’s Q1 2018 Earnings (HOLX)
Hologic, Inc. (NASDAQ:HOLX) – Investment analysts at Jefferies Group cut their Q1 2018 earnings per share (EPS) estimates for shares of Hologic in a report issued on Tuesday. Jefferies Group analyst R. Denhoy now expects that the medical equipment provider will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.54. Jefferies Group currently has a “Buy” rating and a $44.00 target price on the stock. Jefferies Group also issued estimates for Hologic’s Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $2.10 EPS, FY2019 earnings at $2.34 EPS and FY2020 earnings at $2.61 EPS.
Several other research firms have also issued reports on HOLX. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 target price (down previously from $50.00) on shares of Hologic in a report on Wednesday, August 9th. BidaskClub lowered shares of Hologic from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC restated an “equal weight” rating and issued a $51.00 target price (down previously from $53.00) on shares of Hologic in a report on Wednesday, August 9th. Needham & Company LLC restated a “buy” rating on shares of Hologic in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Hologic from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.77.
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Shares of Hologic (NASDAQ:HOLX) traded down 0.76% during trading on Wednesday, reaching $36.58. 377,486 shares of the company were exchanged. The stock’s 50 day moving average is $37.73 and its 200 day moving average is $42.02. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 13.62 and a beta of 0.91. Hologic has a 1-year low of $35.15 and a 1-year high of $46.80.
Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $806.10 million for the quarter, compared to analysts’ expectations of $799.70 million. Hologic had a net margin of 25.65% and a return on equity of 23.18%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS.
In other news, Director Lawrence M. Levy sold 7,139 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.04, for a total value of $278,706.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence M. Levy sold 7,138 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $37.38, for a total transaction of $266,818.44. The disclosure for this sale can be found here. Insiders sold a total of 25,883 shares of company stock worth $1,035,007 over the last 90 days. Company insiders own 0.79% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HOLX. Capital World Investors acquired a new stake in Hologic in the 2nd quarter worth approximately $312,441,000. HealthCor Management L.P. acquired a new stake in Hologic in the 2nd quarter worth approximately $76,604,000. Columbus Circle Investors acquired a new stake in Hologic in the 2nd quarter worth approximately $54,511,000. Vanguard Group Inc. boosted its stake in Hologic by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,547,138 shares of the medical equipment provider’s stock worth $1,340,850,000 after purchasing an additional 1,200,825 shares in the last quarter. Finally, Koch Industries Inc. boosted its stake in Hologic by 15,554.1% in the 2nd quarter. Koch Industries Inc. now owns 1,149,481 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 1,142,138 shares in the last quarter. Institutional investors own 96.38% of the company’s stock.
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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