Needham Remains a Buy on Hologic (HOLX)


Needham analyst Michael Matson reiterated a Buy rating on Hologic (HOLX) today and set a price target of $48. The company’s shares closed yesterday at $41.26.

Matson said:

“HOLX’s F4Q18 revenue beat while EPS missed consensus. Management provided FY19 revenue guidance that bracketed consensus while EPS guidance was slightly below consensus. HOLX’s organic revenue growth remained at 1.1% in F4Q18 vs. 1.1% in F3Q18 despite headwinds resulting from non-recurring royalties received in Touch issues. With HOLX’s revenue growth expected to accelerate from ~1-2% to ~3-4% in Aesthetics issues, we reiterate our Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 11.6% and a 63.7% 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 Hold analyst consensus rating for Hologic with a $43.67 average price target, implying a 5.8% upside from current levels. In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $45 price target.

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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 1.99M.

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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.

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