S&P Equity Research Downgrades Hologic (HOLX) to Buy
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S&P Equity Research downgrades Hologic (Nasdaq: HOLX) from Strong Buy to Buy.
S&P analyst, R. Gold, says, "Mar-Q operating EPS of $0.29 vs. $0.20 is $0.01 above our forecast. Revenues were $15M above our estimate, as 418 Selenia shipments topped both our 396 unit target and 395 unit guidance. We believe the stock is down on concerns regarding slowing gynecological surgery procedures, as well as the reduced Selenia backlog from 9/30/07. We still see FY 08 (Sep.) sales of $1.7B and EPS of $1.15. However, we are trimming our target price by $9 to $29 to account for risks associated with more challenging market conditions, and potential slowdown in Selenia placements in coming quarters."
Hologic, Inc. (Hologic) is a diversified medical technologies company specializing in diagnostic imaging products and interventional devices serving the healthcare needs of women.[SM]
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