Diluting stock value by issuing shares to cover stock options given away to management like candy
From the 3Q earnings report:
"Third quarter fiscal 2013 non-GAAP net income was $103.2 million, or $0.38 per diluted share, an increase of 11.5% and 8.6%, respectively, compared to $92.6 million, or $0.35 per diluted share, for the same period in the prior year".
The earning per share % increase was less than the total earnings % increase which clearly indicates number of shares increased YoY. 2012 3Q: ~ 264.6M shares outstanding, 2013 3Q: ~ 271.6M shares outstanding!
It seems HOLX management has been rewarding its poor performance quite generously. While the stock has underperformed the S&P, NASDAQ and other benchmarks over the past year, management has enriched themselves by issuing stock options, thereby diluting stockholder holding value.
You've got that straight. And its not just here, it's RAMPANT in the stock market as a whole and specifically in biotech. An absolutely MIND BOGGLING amount of money is simply GIVEN away to an insiders network of GOOD OL BOYS and GOOD OL GIRLS who GIVE BOARD MEMBERSHIP SEATS TO EACH OTHER, REPLETE WITH HUNDREDS OF THOUSANDS OF DOLLARS IN FREE SHARES - ALL AT YOUR AND MY EXPENSE. YOU PAY TO GAMBLE SO THAT THEY CAN GET THEIR FREE SHARES. CONGRATULATIONS DUMBOS!