Hologic Posts Solid 1Q Results, but Also Records Another Impairment Charge; No Change to Our FVE
Narrow-moat Hologic’s fiscal second-quarter results slightly exceeded our expectations on the top line, but also trailed our estimates on the bottom line. We’re holding steady on our fair value estimate as our minor adjustments weren’t material enough to shift our valuation. Most significantly, diagnostics and breast health--the two largest businesses--both saw strong growth in the quarter at 7.8% and 8.4% in constant currency, respectively. In particular, Hologic’s molecular diagnostics product...Hologic is a developer, manufacturer and supplier of diagnostics products, medical imaging systems, surgical products and light-based aesthetic and medical treatment systems. The company's segments are: Diagnostics, which provides diagnostic products which are used to aid in the diagnosis of human diseases; Breast Health, which provides solutions for breast cancer care for radiology, pathology and surgery; Medical Aesthetics, which provides aesthetic treatment systems, including SculpSure, PicoSure and MonaLisa Touch; GYN Surgical, which includes NovaSure Endometrial Ablation System to treat abnormal uterine bleeding; and Skeletal Health, which includes the Horizon DXA, a dual energy x-ray system.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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