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Fly News Breaks for November 20, 2019
HOLX
Nov 20, 2019 | 09:45 EDT
Hologic's sale of Cynosure for $205M, a business it bought for $1.59B in 2017, is the "right move given the institutional challenges and softer economic forecast," Piper Jaffray analyst William Quirk tells investors in a research note. The analyst expects a more focused management team and "slightly" higher margins given the Cynosure "drag" relative to the core business. He maintains an Overweight rating on the shares with a $58 price target. The stock in morning trading is up 3% to $48.43.
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