Any thoughts on how Jack will accelerate revenue and profit growth?
I acquired HOLX when it merged with Cytyc; being a longtime holder of the latter. Hence, I have no knowledge of Jack Cummings' management style or historical success with HOLX. However, judging by the market's reaction yesterday to Jack's return, his record must be quite good.
All honest opinions and historical facts will be appreciated.
I was also wondering how a new CEO was worth $450m in market cap, unless reaffirming guidance was also a factor. I wonder if a little bit of take over speculation was involved as they think that Jack will be a temporary CEO. If I am looking at the options correctly, 1172 contracts of the DEC. $25 were bought, the open interest was only 27 contracts. There was also heavy trading in the DEC. $22 & $23 calls and $19 puts.
Piper Jaffray gets the bad timing award for downgrading Hologic on Wed. with a new price target of $21.
HOLX's management was taking far too long to increase top and bottom lines, despite the advantage of a "moat" product like 3D and the politics of "The Race for The Cure." Reimbursement approval/codes and product intallations should have been done long ago, or management should have been talking to NOW, Susan B. Komen, et al. instead of simply waiting for hospitals and clincs to knock on the door.