Q2 2018 EPS Estimates for Hologic, Inc. (HOLX) Reduced by Analyst
Hologic, Inc. (NASDAQ:HOLX) – Analysts at Jefferies Group dropped their Q2 2018 earnings per share estimates for Hologic in a report issued on Wednesday. Jefferies Group analyst R. Denhoy now forecasts that the medical equipment provider will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.57. Jefferies Group has a “Buy” rating and a $49.00 price target on the stock. Jefferies Group also issued estimates for Hologic’s Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $2.28 EPS, FY2019 earnings at $2.59 EPS and FY2020 earnings at $2.96 EPS.
Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Hologic had a return on equity of 23.18% and a net margin of 25.65%. The business had revenue of $806.10 million for the quarter, compared to analyst estimates of $799.70 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis.
Several other brokerages have also weighed in on HOLX. Stifel Nicolaus raised their target price on Hologic from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Bank of America Corporation restated a “neutral” rating and set a $48.00 price target (up previously from $44.00) on shares of Hologic in a research note on Friday, July 21st. Canaccord Genuity restated a “buy” rating and set a $53.00 price target on shares of Hologic in a research note on Tuesday, May 9th. Piper Jaffray Companies restated a “buy” rating and set a $51.00 price target on shares of Hologic in a research note on Friday, July 14th. Finally, BidaskClub downgraded Hologic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $48.64.
Shares of Hologic (NASDAQ HOLX) traded down 1.49% during midday trading on Monday, hitting $38.38. The stock had a trading volume of 2,415,975 shares. Hologic has a one year low of $35.15 and a one year high of $46.80. The stock has a market cap of $10.76 billion, a PE ratio of 14.29 and a beta of 0.90. The firm has a 50 day moving average price of $44.73 and a 200 day moving average price of $42.94.
In other Hologic news, Director Lawrence M. Levy sold 2,960 shares of Hologic stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $44.54, for a total value of $131,838.40. Following the transaction, the director now directly owns 45,634 shares in the company, valued at approximately $2,032,538.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elaine Ullian sold 6,902 shares of Hologic stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $40.12, for a total value of $276,908.24. Following the completion of the transaction, the director now owns 23,810 shares in the company, valued at $955,257.20. The disclosure for this sale can be found here. Insiders sold a total of 60,627 shares of company stock worth $2,632,911 over the last quarter. Company insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. TrimTabs Asset Management LLC increased its stake in Hologic by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,993 shares of the medical equipment provider’s stock worth $127,000 after buying an additional 1,408 shares in the last quarter. Advisor Partners LLC acquired a new stake in Hologic during the first quarter worth $201,000. Miles Capital Inc. acquired a new stake in Hologic during the first quarter worth $206,000. Beck Mack & Oliver LLC acquired a new stake in Hologic during the second quarter worth $209,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Hologic during the first quarter worth $210,000. Institutional investors own 94.46% of the company’s stock.
Hologic Company Profile
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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