Hologic (HOLX) Checks Look Good, Neutral On Valuation - Piper Jaffray

Piper Jaffray analyst, William Quirk, maintained his Neutral rating on shares of Hologic (NASDAQ: HOLX). The analyst performed a round of STD channel checks which suggests stable growth with domestic HPV and CT/NG growing 2.0% and 2.1% sequentially, respectively. For 3Q16 (ends June), he is modeling a 1.2% yoy revenue increase to $702.3M (Street: $703.4M) and EPS of $0.48, in line with the Street. The analyst continues to believe management is positioning Hologic for solid long-term performance and his fundamental thesis remains positive; however, he remains Neutral on valuation. He would consider revisiting his rating on share price weakness.

No change to the $40 price target based on 20x CY17E EPS.

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 $36.52 yesterday.

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