Hologic (HOLX) PT Raised to $95 at Argus

Argus analyst David Toung raised the price target on Hologic (NASDAQ: HOLX) to $95.00 (from $89.00) while maintaining a Buy rating.

The analyst comments "We are reaffirming our BUY rating on Hologic Inc. (NGS: HOLX) with a raised price target of $95 (up from $89). Coming out of the pandemic, Hologic has almost doubled its installed base of Panther diagnostic systems (versus before 2020) and has expanded its virology and infectious disease testing menus from four approved assays to 20. The Panthers installed base now stands at more than 3,250 systems worldwide. Some 45% are in overseas markets, which remain underpenetrated. Hologic is also focusing on increased utilization of its surgical products. We expect higher non-COVID diagnostic volume and higher elective procedural volume to drive revenue growth in FY24. We also expect increased contributions from recent acquisitions."

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