Hologic (HOLX) PT Boosted to $37 at Leerink Partners Amid 'Strong' Q2

Leerink Partners analyst Richard Newitter reiterated an Outperform rating and boosted his price target on Hologic (NASDAQ: HOLX) to $37.00 (from $34.00) following "strong" Q2 results.

commented, "HOLX delivered a strong F2Q led by solid tomo sales (now ~1800 placements in US) and strength in the GYN business where NovaSure delivered positive US growth for the first time since F4Q12. Operating margins came in above expectations and management raised full-year sales/EPS guidance despite calling out incremental R&D spend as well as investments in the Breast Health and Diagnostics businesses. With ongoing mid-to-high single-digit organic rev growth combined with sales/EPS upside still in the cards, we see room for additional multiple expansion & continued upward est. revisions. Reiterate OP; PT to $37 (vs. $34) based on higher estimates and group multiple expansion."

The firm's new F15E sales/EPS is $2.61B/$1.59.

For an analyst ratings summary and ratings history on Hologic click here. For more ratings news on Hologic click here.

Shares of Hologic closed at $32.66 yesterday.

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