In a report issued on November 8, Sean Lavin from BTIG maintained a Buy rating on Hologic (HOLX), with a price target of $47. The company’s shares closed on Friday at $41.78.
Lavin observed:
“Hologic reported a $7M sales beat on consensus, driven by stellar Breast Health sales and strong Diagnostics results. Distracting from this positive headline was a ~$10M CYNO Aesthetics miss due mainly to the voluntary TempSure Vitalia suspension. While HOLX couldn’t break the streak of negative CYNO news this quarter, management pointed to momentum in the quarter before the FDA impact. We are more cautious and lower our CYNO forecast going forward. Separately, HOLX alleviated worries about contracts with two major lab customers by announcing a signed multi-year deal with one and a multi-year extension with the other expected in weeks. Removing this overhang may help HOLX shares move higher Thursday. While there were some metrics to nitpick in the report – gross margins were weak and F1Q guidance was set below consensus – overall, we saw this as a decent report.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 11.6% and a 60.6% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Currently, the analyst consensus on Hologic is a Moderate Buy with an average price target of $44.78, representing a 7.2% upside. In a report issued on November 1, Needham also maintained a Buy rating on the stock with a $48 price target.
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Based on Hologic’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $50.5 million. In comparison, last year the company had a net profit of $82.7 million.
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Hologic, Inc. engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products dedicated to serve the healthcare needs of women. It operates through the following business segments: Breast Health, Diagnostics, Medical Aesthetics, GYN Surgical, and Skeletal Health.
