In a report released today, Michael Matson from Needham maintained a Buy rating on Hologic (HOLX), with a price target of $52. The company’s shares closed yesterday at $46.01.
Matson commented:
“HOLX’s F2Q19 revenue and EPS beat consensus. Management raised its FY19 revenue and EPS guidance. HOLX’s organic revenue growth slowed to 3.3% in F2Q19 vs. 4.1% in F1Q19. Growth was driven by Molecular Diagnostics. HOLX’s margins were lower than expected given gross margin headwinds (though we note that nonrecurring items were a ~110 bps headwind). We maintain our Buy rating and raise our price target due to peer multiple expansion and HOLX’s slightly higher revenue growth.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.1% and a 61.2% 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 Strong Buy analyst consensus rating for Hologic with a $49.25 average price target, which is a 7.0% upside from current levels. In a report issued on April 24, Piper Jaffray also maintained a Buy rating on the stock with a $49 price target.
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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.
