Needham analyst Michael Matson reiterated a Buy rating on Hologic (HOLX) today and set a price target of $48. The company’s shares opened today at $40.03.
Matson wrote:
“On 1/7/19, HOLX preannounced above-consensus F1Q19 preliminary revenue driven by Molecular Diagnostics. We believe some of the outperformance was driven by HOLX’s recent we estimate that these deals may have added 1.0-1.5% to HOLX’s revenue growth. GYN Surgical and Aesthetics were both below consensus; we think Aesthetics was hurt by the now-resolved TempSure Vitalia suspension. While there is some risk that Aesthetics could remain weak in CY19, we expect HOLX’s revenue growth to remain in the mid-single digits in CY19 driven by Breast Health and Molecular Diagnostics and we reiterate our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.8% and a 55.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hologic with a $44.29 average price target.
See today’s analyst top recommended stocks >>
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 $407 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
