Skip to main content

Market Overview

UPDATE: Citigroup Downgrades Hologic on More Balanced Risk/Reward Profile


In a report published Wednesday, Citigroup analyst Amit Bhalla downgraded the rating on Hologic (NASDAQ: HOLX) from Buy to Neutral, but reiterated the $24.00 price target.

In the report, Citigroup noted, “We are downgrading HOLX to Neutral (from Buy) as the stock price has significantly increased since the company's new CEO took over on July 18th (+13% vs. S&P up +1%), and while we do expect improved strategic focus from management, we believe the stock appropriately reflects new upcoming initiatives balanced against potentially muted F2014 financial performance. HOLX's F4Q earnings call (Nov 11th) will include F2014 guidance as well as highly anticipated commentary regarding the company's strategic review. While mgmt. has indicated that F2014 will only see flat/slight growth, the street is currently modeling growth of +3% in revs and +11% EPS which will likely need to be reduced. In addition, we believe the initial strategic review discussion will focus on capital allocation, internal restructuring, modest divestitures, but not a break-up of the company (given the prices paid for the original assets). As such, the recent move up in the stock now creates a more balanced risk/reward profile and we chose to move to the sidelines.”

Hologic closed on Tuesday at $22.28.

Latest Ratings for HOLX

Apr 2021JefferiesMaintainsBuy
Feb 2021BairdMaintainsBuy
Dec 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for HOLX
View the Latest Analyst Ratings


Related Articles (HOLX)

View Comments and Join the Discussion!

Posted-In: Amit Bhalla CitigroupAnalyst Color Downgrades Analyst Ratings

Latest Ratings

VZIOWells FargoInitiates Coverage On31.0
OMWells FargoInitiates Coverage On63.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at