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Needham Believes Hologic (HOLX) Won’t Stop Here


In a report released today, Michael Matson from Needham maintained a Buy rating on Hologic (HOLX), with a price target of $48. The company’s shares opened today at $44.60, close to its 52-week high of $45.09.

Matson said:

“FDA’s latest monthly Act (MQSA) statistics were published on 12/3/18. The number of digital breast tomosynthesis (DBT) units increased by 79 during November which represents an 29% Y/Y decrease. DBT unit penetration increased to 34.7% from 34.4% last month and facility penetration increased to 56.3% from 55.5% last month. More importantly, DBT units placements were down 2% quarter-to-date (QTD) in 4Q18 vs. 4Q17. HOLX’s Breast Imaging growth slowed slightly in December data seems to indicate that growth could slow more in F1Q19. 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 data.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 11.6% and a 64.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Hologic has an analyst consensus of Moderate Buy, with a price target consensus of $44.90.

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The company has a one-year high of $45.09 and a one-year low of $35.10. Currently, Hologic has an average volume of 2.05M.

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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.