Needham Maintains Their Buy Rating on Hologic (HOLX)

Needham analyst Michael Matson maintained a Buy rating on Hologic (HOLXResearch Report) today and set a price target of $57.00. The company’s shares closed last Monday at $51.54, close to its 52-week high of $52.19.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.7% and a 66.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hologic with a $53.80 average price target, which is a 5.2% upside from current levels. In a report issued on November 20, Piper Jaffray also maintained a Buy rating on the stock with a $58.00 price target.

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Based on Hologic’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $39.9 million. In comparison, last year the company had a net profit of $50.5 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HOLX in relation to earlier this year.

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Hologic, Inc. engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products dedicated to serve the healthcare needs of women. It operates through the following business segments: Breast Health, Diagnostics, Medical Aesthetics, GYN Surgical, and Skeletal Health.