Morningstar Rating

Stock Research and Analysis

by John Zecy

Bulls Say

Hologic currently manufacturers the only FDA approved 3D mammography platform in the United States, giving it a considerable head start against General Electric and Siemens.
Hologic’s ThinPrep test holds lion’s share of the United States’ liquid-based Pap market, and the acquisition of Gen-Probe catapulted the firm into number one positions in chlamydia, gonorrhea, and blood screening.
Hologic is establishing a firm presence in emerging markets, particularly China, which should provide new growth avenues as a growing middle class and aging population necessitate the firm's services. Read more 

Bears Say

The Pap smear market is in secular decline due to lengthening screening intervals and could weigh on Hologic’s results past 2014 should it take longer than expected for volume to stabilize.
CMS has yet to establish reimbursement for breast tomosynthesis, and the timeline for approval remains uncertain.
Despite Hologic’s full pipeline and best efforts, a high degree of clinical and regulatory risk surrounds its products. The regulatory path to approval can be an expensive, time-consuming, and fruitless process. Read more 

Management

We award Hologic standard marks for stewardship. The firm announced in December 2013 that Stephen MacMillan would replace Jack Cumming as CEO, who had returned to the role in July after having previously served in that capacity from 2001 to 2009. MacMillan   Read more 

Profile

Hologic manufactures proprietary products for the health-care needs of women. The company operates in four segments: diagnostics (48% of sales), breast health (36%), surgical   Read more 

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