Stock Track | Hologic Stock Plunges Over 5% in Pre-Market as Analysts Cut Ratings on Weak Q1 Results
Hologic Inc. (HOLX) shares plummeted by 5.49% in pre-market trading on Thursday, following a series of analyst downgrades after the company reported its fiscal first-quarter results.
Leerink downgraded HOLX to Market Perform from Outperform with a lower price target of $75, down from $80, citing the mixed Q1 report. Jefferies also cut its price target on the stock to $78 from $85, while JP Morgan lowered its target to $85 from $94.
The downgrades came as analysts expressed concerns over the company's outlook and financial performance. Hologic's Q1 results fell short of market expectations, leading analysts to revise their ratings and price targets accordingly.
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