Needham & Company Maintains a 'Buy' on Hologic (HOLX); Qtr In-line; Acquisition on Gen-Probe is Transformational

Needham & Company maintains a 'Buy' on Hologic (NASDAQ: HOLX) price target of $22.00.

Analyst, Dalton Chandler, said, "Although revenue in the quarter slightly missed our estimate and the consensus, it was within the guidance range management issued last quarter and the company still managed to meet EPS estimates. The major news was the planned acquisition of Gen-Probe (Nasdaq: GPRO)(nr) a molecular diagnostics company with an emphasis in women’s health. When the deal closes in the second half of the calendar year about 50% of the company’s revenue will come from its Diagnostics Segment, up from 32%, and Breast Health, long the largest segment by revenue, will become second largest at around 38%, down from about 46%."

FY12 slashed from $0.38 to $0.13; FY13 raised from $0.46 to $0.48.

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 $19.12 yesterday.

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