Zacks Investment Research downgraded shares of Hologic, Inc. (NASDAQ:HOLX) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Hologic has been trading below the broader industry over the last six months. Moreover, the lowered guidance suggests dull prospects. Furthermore, the blood screening divestiture is expected to impede the company’s growth momentum in the days ahead. Foreign currency headwinds and a competitive landscape also continue to pose challenges. On a positive note, Hologic is optimistic about the recent commercial launch of the Brevera breast biopsy system in the United States. Hologic’s third-quarter 2017 performance was quite promising with revenues and earnings beating the estimates. The company’s top-line growth was led by strength in the molecular diagnostics and GYN Surgical businesses. Moreover, sales were driven by the company’s recent receipt of CE mark for its new Panther Fusion system and Panther Fusion assays for flu and respiratory testing.”

Other equities research analysts also recently issued reports about the stock. Piper Jaffray Companies reissued a buy rating and issued a $51.00 price objective on shares of Hologic in a research report on Friday, July 14th. Stifel Nicolaus reissued a buy rating on shares of Hologic in a research report on Friday, July 14th. Jefferies Group LLC reissued a buy rating and issued a $49.00 price objective on shares of Hologic in a research report on Wednesday, June 28th. Deutsche Bank AG dropped their price objective on shares of Hologic from $51.00 to $49.00 and set a buy rating on the stock in a research report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Hologic from a conviction-buy rating to a buy rating and dropped their price objective for the company from $48.00 to $47.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $47.77.

Shares of Hologic (NASDAQ:HOLX) traded down 0.19% during midday trading on Tuesday, reaching $37.01. 2,340,233 shares of the company’s stock traded hands. The stock has a market capitalization of $10.38 billion, a P/E ratio of 13.78 and a beta of 0.91. Hologic has a 1-year low of $35.15 and a 1-year high of $46.80. The firm’s 50-day moving average price is $37.52 and its 200 day moving average price is $41.73.

Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. Hologic had a net margin of 25.65% and a return on equity of 23.18%. The firm had revenue of $806.10 million for the quarter, compared to the consensus estimate of $799.70 million. During the same period in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts predict that Hologic will post $2.01 earnings per share for the current fiscal year.

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In related news, Director Lawrence M. Levy sold 9,596 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $36.81, for a total value of $353,228.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Elaine Ullian sold 6,902 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $40.12, for a total transaction of $276,908.24. Following the completion of the transaction, the director now directly owns 23,810 shares in the company, valued at $955,257.20. The disclosure for this sale can be found here. Insiders sold a total of 30,775 shares of company stock worth $1,175,662 over the last ninety days. Insiders own 0.79% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hall Laurie J Trustee grew its position in shares of Hologic by 10.2% in the 2nd quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock valued at $110,000 after buying an additional 225 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Hologic by 31.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock valued at $114,000 after buying an additional 600 shares during the last quarter. National Asset Management Inc. purchased a new position in shares of Hologic in the 2nd quarter valued at $203,000. Beck Mack & Oliver LLC purchased a new position in shares of Hologic in the 2nd quarter valued at $209,000. Finally, Notis McConarty Edward acquired a new stake in Hologic during the 2nd quarter worth $213,000. 96.38% of the stock is currently owned by hedge funds and other institutional investors.

About Hologic

Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.

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