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HOLX

Hologic

$44.26

1.26 (2.93%)

05:13
04/24/19
04/24
05:13
04/24/19
05:13

Hologic checks suggest worsening Cynosure trends, says Piper Jaffray

Piper Jaffray analyst William Quirk says his eBay (EBAY) channel checks suggest Hologic's (HOLX) positive trends in his earlier research have reversed with more used Cynosure lasers hitting third party websites and prices trending down. While Cynosure represents just ~10% of Hologic's total revenue, it carries a "heavy psychological burden on the share price," Quirk tells investors in a research note. He maintains an Overweight rating on Hologic with a $49 price target, but recognizes the company's March quarter results may bring a better entry point if his checks prove accurate.

  • 01

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    May

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  • 05

    Jun

HOLX Hologic
$44.26

1.26 (2.93%)

01/02/19
01/02/19
DOWNGRADE
Target $39

Underweight
Morgan Stanley sees more underperformance for Hologic, downgrades to Underweight
As previously reported, Morgan Stanley analyst David Lewis downgraded Hologic (HOLX) to Underweight from Equal Weight, stating that his checks with about 40 medspas highlighted market saturation of body sculpting devices. This, coupled with Allergan's (AGN) recent announcement of discounting CoolSculpting to drive its installed base, suggests Hologic's acquisition of Cynosure may not be as accretive as expected, Lewis tells investors. Additionally, in the company's Surgical segment, he expects NovaSure will continue to lose share as procedures shift to the office where NovaSure is less popular given periprocedural pain. Given both of these views, Lewis views Hologic as less attractive relative to peers and cut his price target on the stock to $39 from $44.
01/02/19
01/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Henry Schein (HSIC) downgraded to Neutral from Outperform at Baird with analyst Jeff Johnson saying he is more cautious on the combination of the dental sector's secular overhangs, softer Q4 patient volume checks, and accelerating equipment pricing pressures. 2. Conagra Brands (CAG) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jason English saying while the stock's 41% decline since October 23 is overdone, the "path of recovery is likely to be protracted." 3. BioMarin (BMRN) downgraded to Market Perform from Outperform at Raymond James with analyst Laura Chico saying BioMarin lacks near-term catalysts which makes it more vulnerable in a "risk off" environment. 4. Hologic (HOLX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lewis saying his checks with about 40 medspas highlighted market saturation of body sculpting devices. 5. Louisiana-Pacific (LPX) downgraded to Neutral from Buy at BofA/Merrill with analyst George Staphos citing the steep drop-off in 2H 2018 panel pricing and challenging 1H 2019 comparisons versus 1H 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/19
COWN
01/04/19
DOWNGRADE
COWN
Market Perform
Hologic downgraded to Market Perform from Outperform at Cowen
01/31/19
PIPR
01/31/19
NO CHANGE
Target $49
PIPR
Overweight
Hologic price target raised to $49 from $45 at Piper Jaffray
Piper Jaffray analyst William Quirk raised his price target for Hologic to $49 after the company reported fiscal Q1 results in-line with its preannouncement and raised guidance for fiscal 2019. The analyst continues to believe "core Hologic is moving in the right direction" and and he keeps an Overweight rating on the shares. He views the quarter as positive for the company and believes the guidance is reasonable.

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