Leerink Partners Remains Bullish After traveling with Hologic (HOLX) Management
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Leerink Partners reiterated an Outperform rating and $46.00 price target on Hologic (NASDAQ: HOLX) after traveling with management. Consistent with Street projections, Leerink models ~4% organic growth in FY17 and expects management will likely establish an initial FY17 guidance range that brackets this figure.
Analyst Richard Newitter commented, "HOLX remains a top mid/large-cap pick following recent diligence and time on the road with management. We have increased confidence HOLX can be a sustainable MSD top-line grower over the next several years with 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% FCF yield. Reiterate OP & $46 PT."
Shares of Hologic closed at $38.14 yesterday.
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