Needham analyst Michael Matson maintained a Buy rating on Hologic (HOLX) yesterday and set a price target of $52. The company’s shares closed yesterday at $44.06.
Matson noted:
“FDA’s latest monthly Act (MQSA) statistics were published on 6/3/19. The number of digital breast tomosynthesis (DBT) units increased by 137 during May which represents a 53.9% Y/Y increase. DBT unit penetration increased to 37.0% from 36.6% last month and facility penetration increased to 61.4% from 60.4% last month. More importantly, DBT units placements were up 13.2% quarter-to-date (QTD) in 2Q19 vs. 2Q18. We note that HOLX’s 3D mammography sales are less than 13% of its total sales. Please contact your Needham salesperson for a copy of our MQSA spreadsheet.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.8% and a 60.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Hologic is a Moderate Buy with an average price target of $49.40.
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Based on Hologic’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $273 million. In comparison, last year the company had a GAAP net loss of $681 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.
