HOLX - Hologic, Inc.
| Previous Close | 49.85 |
| Open | 49.79 |
| Bid | 0.00 x 900 |
| Ask | 0.00 x 1300 |
| Day's Range | 47.91 - 49.83 |
| 52 Week Range | 37.47 - 52.19 |
| Volume | 1,523,586 |
| Avg. Volume | 1,648,055 |
| Market Cap | 12.865B |
| Beta (3Y Monthly) | 0.93 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.11 |
| Earnings Date | Nov 5, 2019 - Nov 11, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 53.02 |
- TipRanks
RBC Capital: 5 New Stocks Hedge Funds Snapped Up In Q2
Hedge funds have just released their portfolio trades for the second quarter. And now is the time to evaluate these trades for valuable investing insights. Here we focus on one particular aspect of hedge fund activity- new stock additions. That’s using an August 19 report from RBC Capital which analyzes the 2Q19 13f forms of 363 major hedge funds with significant stakes in US equities (single stocks). The firm used this data to pinpoint the top stocks where hedge fund ownership rose the most during 2Q19, in terms of the net number of funds that added new positions.Three names fall in Health Care (including the 1 name- Allergan (AGN)). Another three names fall in Industrials, notes the firm. But there is one key stock worth bearing in mind: “Note that UBER (UBER) does not qualify for this screen as it does not fall in the S&P 500 and it began trading mid way through the 2nd quarter. It was owned by 51 hedge funds at the end of 2Q19” points out the firm.With that being said, let’s take a closer look at five top new stocks hedge funds are making a bet on right now: 1\. Align Technology (ALGN)Align Technology is leading an orthodontics revolution. The company invented the Invisalign- a clear teeth aligner system- that can replace traditional braces. In Q2, 14 new funds bought Align shares- bringing the total value of ALGN shares owned by hedge funds to $1,805 million. Unfortunately however the stock has declined in both Q2 and Q3. Despite strong Q2 earnings results, the company’s guidance left investors disappointed. "Given the uncertainty in China," CEO Joe Hogan commented, "our outlook for the third quarter reflects a more cautious view for growth in the Asia Pacific region."Don’t be disheartened, says Piper Jaffray’s Matthew O’Brien. This five-star analyst has just reiterated his ALGN buy rating with a $240 price target (37% upside potential). Align "has much better products that will win in the marketplace" he tells investors. O’Brien believes that an accelerated stock repurchase plan of $200 million demonstrates confidence in Align’s outlook.Overall, ALGN shows a Moderate Buy analyst consensus, with an average price target of $259. Interestingly if we look at only the best-performing analysts, this consensus shifts to Strong Buy. 2\. Qualcomm (QCOM)Chip titan Qualcomm is an intriguing hedge fund pick. In the second quarter, 20 more funds owned QCOM stock vs the first quarter. As a result, 15% of the funds covered in RBC Capital’s study now own Qualcomm. Their total holding works out at $1,682 million.Despite numerous problems- most obviously the May 21 antitrust ruling - some analysts do see a bright future ahead. That’s thanks to the company’s prime 5G position. “We believe Qualcomm's bull case is unchanged, with global 5G roll outs expected to increase both royalty income and demand for semiconductors beginning in 2020,” Merrill Lynch’s Tal Liani said recently. “Press reports suggest that all of Apple's 2020 iPhones will contain Qualcomm's 5G chipset, which could drive a 5G cycle across the entire industry.” The analyst has just reiterated his QCOM buy rating and $100 price target (36% upside potential). No doubt hedge funds are also relieved to hear that Qualcomm has just won a critical partial stay from The Ninth Circuit Court of Appeals. The company won’t have to grant patent licenses to rivals and can still require patent licenses for customers to buy chips while its appeal is ongoing. According to Qualcomm general counsel Don Rosenberg, the company still believes “the district court decision will be overturned once the merits of our appeal have been considered.” In total, QCOM scores a Moderate Buy Street consensus with a $78 average price target. 3\. Hologic (HOLX)Medical tech stock Hologic focuses primarily on women’s health and beauty; it sells medical devices for surgery and medical imaging. During Q2, 14 funds initiated positions in HOLX. RBC Capital reveals that funds now own a total of $748 million in Hologic stock. Of course, Hologic has a history when it comes to hedge funds. Back in 2013, hedge fund activist Carl Icahn swooped in with a 12.63% stake. Three years later he cashed in on what proved to be a successful intervention. “Yesterday our designees resigned from the [Hologic] board because the situation no longer calls for activism,” Icahn wrote on Twitter at the time. “Hologic is the quintessential example of activism at its best. We commend [Hologic chief executive] Steve MacMillan for a job well done.”Looking ahead, analysts are divided over HOLX’s outlook. Five analysts currently rate the stock a buy, while four analysts are staying on the sidelines. “Hologic is gradually executing over the course of this year as its breast health and molecular diagnostics businesses pace its growth, but are offset by slower growth or declining segments” states Canaccord Genuity’s Mark Massaro. This Top 50 analyst reiterated his hold rating on Hologic on August 1, but ramped up the price target from $49 to $52 (8% upside potential). “Near mid-single-digit growth and effective capital allocation (buybacks and tuck-in deals) are warming us up to the stock as HOLX delivered a 2% top-line beat, 2 cent bottom-line beat, and raised its FY top- and bottom-line guide” he explained. 4\. United Technologies Corp (UTX)Like the previous two stocks, United Technologies Corp saw the addition of 14 new funds in Q2. This aerospace and defense stock now features in 16% of the portfolios scanned by RBC Capital. And the total hedge fund holding is valued at $4,552 million.Encouragingly, analysts are positive on UTX right now. The stock boasts a ‘Strong Buy’ consensus, and a price target that indicates 23% upside from current levels. Indeed, both Vertical Research and Seaport Global upgraded United Technologies from Hold to Buy in the last couple of months.The analysts made their calls after the news of a proposed $120 billion merger between UTX and Raytheon (RTN) sent shares plummeting. The deal, which is set to close in the first half of the year, is currently undergoing an investigated by the U.S. Department of Justice’s antitrust division. According to Vertical Research analyst Jeffrey Sprague the stock’s weakness created an attractive buying opportunity.More recently, five-star Cowen & Co analyst Cai Rumohr reiterated his UTX buy rating and $150 price target. Turning the cash flow corner, enthused Rumohr following Q2 earnings. “Q2's EPS/cash flow beat suggests cash consuming build in new aerospace programs is starting to reverse with a likely multi-year ramp in standalone CFPS [cash flow per share]. And the proposed RTN merger would accelerate cash deployment potential” summed up the analyst. 5\. Roper Technologies (ROP) Roper Technologies is a diversified industrial company that produces engineered products for global niche markets. That includes everything from creative software technologies for visual effects and 3D content, to safety valves and radiotherapy solutions. Thirteen hedge funds started new positions in Roper during Q2, says RBC Capital.Indeed, the firm’s own Deane Dray shares this bullish outlook on Roper stock. He recently reiterated his buy rating while bumping up the price target from $391 to $393 (13% upside potential). “Outperform-rated Roper’s modest 2Q19 beat featured its typical high quality of earnings” Dray wrote post-earnings. However, the analyst added that there was a pang of disappointment with the disclosure that expected 2H19 slowing in short- cycle industrial businesses (8% of revenues) could pose a -10c headwind. Ultimately, though, Roper remains “indisputably one of the highest-quality names within the Multi-Industry sector.” It leads the pack in EBIT margin and free cash flow conversion thanks to its portfolio of low- capital-intensity and profitable SaaS and network businesses, he tells investors. Currently five analysts rate ROP a buy, with only 1 analyst calling the stock a hold- giving it a ‘Strong Buy’ consensus. Meanwhile the average analyst price target stands at $399 suggesting shares can climb 15% in the coming months. Find analysts' favorite stocks with the Top Analysts' Stocks tool
- Simply Wall St.
Hologic (NASDAQ:HOLX) Has A Pretty Healthy Balance Sheet
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
- GuruFocus.com
Hologic Inc (HOLX) Chairman, President and CEO Stephen P Macmillan Sold $9.5 million of Shares
Chairman, President and CEO of Hologic Inc (30-Year Financial, Insider Trades) Stephen P Macmillan (insider trades) sold 194,396 shares of HOLX on 08/05/2019 at an average price of $48.77 a share. Continue reading...
- Zacks
DexCom (DXCM) Hits 52-Week High, Can the Run Continue?
DexCom (DXCM) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
- TheStreet.com
Hologic Looks Good as Long as the Stock Doesn't Close Below This Key Level
In his second "Executive Decision" segment of Mad Money Thursday night, Jim Cramer sat down with Steve MacMillan, president and CEO of Hologic Inc. , the medical equipment maker with shares up 24% for the year. MacMillan explained that Hologic's 3D mammography and cervical products are designed to detect cancers earlier, so patients get better outcomes and the health care system overall saves money. In the daily bar chart of HOLX, below, we can see that prices have moved up so far this year but not without a number of retracements or corrections along the way.
- MoneyShow
Acute Care and Women's Health- Breakout Buys in Healthcare
Leo Fasciocco specializes in stocks that have broken out of technical bases; the editor of Ticker Tape Digest reviews two recent buys in the healthcare sector. Both have recently broken out to new all-time highs.
- Business Wire
Hologic Acquires Approximately 46% of Shares in SuperSonic Imagine, a French Innovator in Ultrasound Medical Imaging
Hologic, Inc. (HOLX), a global leader in women’s health, and SuperSonic Imagine (Euronext: SSI, FR0010526814), a company specialized in ultrasound medical imaging, jointly announce today that Hologic Hub Ltd, a wholly-owned indirect subsidiary of Hologic, Inc., has acquired approximately 46% of SuperSonic Imagine shares, pursuant to a shares sale agreement entered into today. “We are very pleased to take this important step in the process of acquiring SuperSonic Imagine, and are excited to begin integrating the company’s best-in-class ultrasound technology, products and people with Hologic’s broader resources for the benefit of women’s breast health,” said Pete Valenti, Hologic’s Division President, Breast and Skeletal Health Solutions. SuperSonic Imagine’s main shareholders, namely Bpifrance, Andera Partners, Auriga Partners, Mérieux Participations and CDC PME Croissance, holding together 10,841,409 shares, representing approximately 46% of the outstanding share capital of SuperSonic Imagine, sold all of their shares to Hologic at a price of €1.50 per share.
- Business Wire
Hologic to Webcast Presentation at the Canaccord Genuity 39th Annual Growth Conference
Hologic, Inc. announced today that the Company will present at the Canaccord Genuity 39th Annual Growth Conference in New York, NY on Wednesday, August 7 at 10 a.m. Eastern Time.
- Zacks
Hologic (HOLX) Beats on Q3 Earnings, Ups '19 Revenue View
Hologic's (HOLX) strong top-line growth in Q3 is led by a solid year-over-year rise in core businesses like Breast Health and Molecular Diagnostics.
Motley FoolHologic Inc (HOLX) Q3 2019 Earnings Call Transcript
HOLX earnings call for the period ending June 30, 2019.
- Business Wire
Hologic Announces Financial Results for Third Quarter of Fiscal 2019
– Revenue of $852.4 Million Grows 3.4%, 4.7% in Constant Currency –
- Benzinga
A Preview Of Hologic's Q3 Earnings
Hologic (NASDAQ: HOLX ) unveils its next round of earnings this Wednesday, July 31. Get prepared with Benzinga's ultimate preview for Hologic's Q3 earnings. Earnings and Revenue Analysts expect Hologic ...
- Zacks
Medical Products' Earnings Roster for Jul 31: MCK, HOLX & More
Solid growth in emerging markets is expected to be an added positive this earnings season.
- Zacks
Illumina (ILMN) Q2 Earnings Beat Estimates, Margins Contract
Illumina's (ILMN) witnessed top-line growth across its high and low throughput categories in the second quarter of 2019.
- Zacks
GNC Holdings (GNC) Q2 Earnings Beat Estimates, Margins Expand
GNC Holdings' (GNC) Q2 revenues decline year over year at each of the three operating segments.
- Zacks
Zimmer Biomet (ZBH) Beats on Q2 Earnings, Narrows '19 View
Zimmer Biomet (ZBH) observes strength in the Asia Pacific and EMEA regions as well as in the S.E.T. business.
- Zacks
Omnicell (OMCL) Beats on Earnings in Q2, Tapers '19 EPS View
Omnicell (OMCL) aims at product innovation through R&D.
- Zacks
Stryker (SYK) Q2 Earnings and Revenues Surpass Estimates
Higher revenues, solid segmental performance and strong organic growth across businesses benefit Stryker's (SYK) Q2 earnings.
- Zacks
Merit Medical (MMSI) Q2 Earnings & Revenues Miss Estimates
Higher revenues and solid segmental performance margins benefit Merit Medical's (MMSI) Q2 earnings. However, contraction in both gross and operating margins remains a concern.
- Zacks
Chemed (CHE) Earnings Top Estimates in Q2, Margins Expand
It is encouraging to note that Chemed (CHE) witnessed solid revenue growth across both of its key subsidiaries.
- Zacks
ResMed's (RMD) Q4 Earnings Beat Estimates, Margins Expand
ResMed (RMD) achieves double-digit global revenue growth in the fourth quarter, led by strong sales at Software-as-a-Service businesses as well as of new mask products and devices.
- Business Wire
Hologic's Cynosure Division Expands Body Contouring Portfolio with TempSure® Firm for Tissue Heating and Cellulite Treatments and SculpSure® Petite Mask for Submental Fat Reduction
Hologic’s (Nasdaq: HOLX) Cynosure division announced today the launch of two new products that expand the Company’s growing portfolio of innovative aesthetic treatments — the TempSure® Firm handpiece and a petite mask for SculpSure® submental treatments. SculpSure submental treatments are now cleared by the U.S. Food and Drug Administration (FDA) for patients with a body mass index (BMI) up to 49 — the highest BMI clearance on the market for submental treatments. The TempSure Firm handpiece is the latest addition to the TempSure platform.
- Zacks
LabCorp's (LH) Q2 Earnings Beat Estimates, Margins Fall
While rising acquisitions and a favorable mix contribute to LabCorp's (LH) Diagnostics business, the disposition of certain businesses and the implementation of PAMA dented the company's growth in Q2.
- Zacks
Align Technology (ALGN) Beats on Q2 Earnings, Margins Fall
We are upbeat about Align Technology's (ALGN) continued momentum in Invisalign volumes across all geographies.
- Zacks
Integra Lifesciences' (IART) Earnings Top Estimates in Q2
We are upbeat about Integra LifeSciences' (IART) year-over-year revenue growth across key business segments.
