Needham & Company Downgrades Hologic (HOLX) to Hold
Get Alerts HOLX Hot Sheet
Rating Summary:
11 Buy, 18 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 4 | Down: 3 | New: 2
Join SI Premium – FREE
Needham & Company downgraded Hologic (NASDAQ: HOLX) from Buy to Hold.
Analyst Mike Matson commented, "HOLX's F2Q16 revenue and EPS beat consensus and management raised its FY16 guidance. HOLX's revenue growth slowed to 6% CC in F2Q16 from 8% CC in F1Q16. Positives include 11% CC growth in Breast Imaging and 16% CC growth in GYN Surgical. In particular, international Breast Health growth improved from last quarter's 8% CC decline with mid-single digit growth excluding the impact of discontinued products. But management's disappointing guidance for F3Q16 (implying just 0.6-2.0% CC revenue growth) and frank commentary regarding the tomo product cycle plateauing in FY17 caught us by surprise. With HOLX's revenue growth potentially remaining stuck in the low single digits through FY17, we expect multiple compression and are downgrading to Hold."
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 $37.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Downgrades Monster Beverage (MNST) to Neutral, 'Cost Pressures and Weaker Low-end Consumer'
- Meta Platforms Inc. (META) PT Lowered to $565 at Bernstein SocGen Group, 'We’re buyers of the pullback here'
- Meta Platforms Inc. (META) PT Lowered to $500 at Wolfe Research, 'LT Thesis Remains In-Tact'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, DowngradesRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!