Hologic (HOLX) PT Trimmed to $43 at Leerink Partners; Remains Top Pick

November 3, 2016 7:38 AM EDT
Get Alerts HOLX Hot Sheet
Price: $40.18 --0%

Rating Summary:
    15 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Leerink Partners analyst Richard Newitter reiterated an Outperform rating but lowered his price target on Hologic (NASDAQ: HOLX) to $43.00 (from $46.00) following results. Shares remain a top mid/large-cap pick.

Newitter commented, "following an F4Q beat and slightly better-than-expected cc top-line growth guide with the midpoint slightly above-consensus (EPS range brackets the Street) and which to us likely bakes in conservatism. We see HOLX sustaining a MSD top-line growth rate over the next several years. And, we continue to believe there are several underappreciated drivers beyond US 3D Tomo capital sales (OUS acceleration, R&D pipeline emphasis, 3D service rev), and more meaningful top-line acceleration into the out-years is a real possibility, especially when factoring in tuck-in M&A potential. We also continue to view HOLX as one of the more dependable double-digit (sustainable low teens) EPS growth stories in MedTech with strong est. upside prospects, and an above-avg. 7.5% FCF yield. Reiterate OP. PT to $43 (vs. $46) based on recent group multiple compression."

For an analyst ratings summary and ratings history on Hologic click here. For more ratings news on Hologic click here.

Shares of Hologic closed at $35.37 yesterday.

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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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