Needham analyst Michael Matson downgraded Hologic (HOLX) to Hold today. The company’s shares closed last Thursday at $70.01, close to its 52-week high of $77.49.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.9% and a 63.3% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Hologic has an analyst consensus of Moderate Buy, with a price target consensus of $87.75, representing a 25.4% upside. In a report issued on November 5, UBS also maintained a Hold rating on the stock with a $81.00 price target.
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Based on Hologic’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.35 billion and net profit of $495 million. In comparison, last year the company earned revenue of $866 million and had a GAAP net loss of $124 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. The Breast Health segment includes a broad portfolio of breast imaging and related products and accessories, including digital mammography systems, computer-aided detection, for mammography and minimally invasive breast biopsy devices, breast biopsy site markers, and breast biopsy guidance systems. The Diagnostics segment comprises Aptima family of Assays, target capture/nucleic acid extraction techonolgy, transcription-mediated amplification technology, hybridization protection assay and dual kinetic assat technologies, instrumentation, and Invader Chemistry Platform. The Medical Aesthetics segment offers SculpSure; PicoSure, MedLite, and RevLite; and MonaLisa Touch. The GYN Surgical segment encompasses the NovaSure Endometrial Ablation System and the MyoSure Hysteroscopic Tissue Removal System. The Skeletal Health segment covers the discovery and horizon X-ray bone densitometry system, an ultrasound-based osteoporosis assessment product, and Fluoroscan mini C-arm imaging products. The company was founded by S. David Ellenbogen and Jay A. Stein in 1986 and is headquartered in Marlborough, MA.
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