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Hologic Inc.

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Hologic posted better-than-expected results in the second quarter of fiscal 2017, with both earnings and sales beating the Zacks Consensus Estimate. The company’s top-line growth was driven by strength in molecular diagnostics, GYN Surgical and Breast Health businesses. Management’s raised guidance for fiscal 2017 also raises optimism. For the last three months, Hologic has been trading above the broader Medical Instruments industry in terms of price. Post the earnings release, the company’s share price scaled higher. Hologic’s strong cash position is another encouraging factor. However, we are disappointed with the sales decline at the company’s Diagnostics segment. The blood screening divestiture is expected to impede the company’s growth momentum in the days ahead. Foreign currency headwinds and a competitive landscape also continue to pose challenges.

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