Needham analyst Michael Matson maintained a Buy rating on Hologic (HOLX) today and set a price target of $50. The company’s shares opened today at $48.25, close to its 52-week high of $48.82.
Matson wrote:
“FDA’s latest monthly Act (MQSA) statistics were published on 4/1/19. The number of digital breast tomosynthesis (DBT) units increased by 100 during March which represents a 0.0% Y/ Y increase. DBT unit penetration increased to 36.0% from 35.6% last month and facility penetration increased to 59.3% from 58.5% last month. More importantly, DBT units placements were down 9.4% in 1Q19 vs. 1Q18. 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 12.6% and a 67.6% 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 $47.88.
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Based on Hologic’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $98.6 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.
