BTIG analyst Sean Lavin maintained a Buy rating on Hologic (HOLX) today and set a price target of $52. The company’s shares closed yesterday at $46.01.
Lavin noted:
“Echoing recent quarters, Hologic reported a topline beat for F2Q, with solid Breast Health sales and an outperformance in Diagnostics making up for weakness in the Aesthetics division. Again, CYNO distracted from the progress HOLX is making in returning the core businesses to a sustainable growth level. While some investors may still fixate on this small part of the overall business, we point to the replacement cycle dynamic that is spurring Breast Health sales growth, as well as the strategy of selling across a broader Breast Health product portfolio and strong volume in Molecular Diagnostics. It seems most investors are no longer all that worried about CYNO and appreciate the strong results. In addition, HOLX seems to take its bottom line seriously, executing share buybacks and controlling operating spend to bolster EPS growth.”
According to TipRanks.com, Lavin is a 4-star analyst with an average return of 6.1% and a 54.8% 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 $49.40, a 7.4% upside from current levels. In a report issued on April 24, Piper Jaffray also maintained a Buy rating on the stock with a $49 price target.
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The company has a one-year high of $48.82 and a one-year low of $35.10. Currently, Hologic has an average volume of 1.64M.
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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.
