Barrington Research Downgrades Hologic (HOLX) to Market Perform
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Barrington Research downgraded Hologic (NASDAQ: HOLX) from Outperform to Market Perform.
Analyst Charley R. Jones said, "We are downgrading HOLX to a MARKET PERFORM rating from an OUTPERFORM rating as we would prefer to wait for a better risk/reward. We certainly recognize that the transformation to 3-D is just beginning. We are finally going to get some service growth in the breast health division, which has struggled during the transition to 3-D as a result of the one-year lag on service due to the first year being free as part of a manufacturer warranty. We are also aware that NovaSure has already gone through a meaningful step down in revenue, but the fact is that there are headwinds in each of HOLX’s other segments and at nearly 20x and a 40% debt to cap, we’d rather wait."
Shares of Hologic closed at $25.86 yesterday.
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