Morningstar Rating

Stock Research and Analysis

by Debbie S. Wang

Bulls Say

Hologic was first to market with an FDA-approved 3-D mammography platform in the United States, giving it a considerable head start against General Electric and Siemens.
Hologic controls the lion’s share of the U.S. liquid-based Pap market, and the Gen-Probe acquisition catapulted the firm into number one positions in testing for chlamydia, gonorrhea, and blood screening.
Government reimbursement for 3-D mammography appears lucrative for Hologic's customer base and should accelerate system placements in fiscal 2015. Read more 

Bears Say

Given the typically slow pace at which the medical community adopts new screening guidelines, it appears that a stabilization in ThinPrep volume declines is still a ways away.
While geographic expansion efforts are underway, Hologic has relatively little international exposure, leaving it with a heavy tax burden.
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. Stephen MacMillan replaced Jack Cumming as CEO in late 2013. MacMillan formerly served as the CEO of Stryker Corporation between 2005 and 2012, and holds nearly 25 years of operational experience in the   Read more 

Profile

Hologic manufactures proprietary products for the health-care needs of women. The company operates in four segments: diagnostics (47% of sales), breast health (37%), surgical   Read more 

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