BTIG says Hologic results brought new ‘bone to pick’ for investors

BTIG keeps a Neutral rating on Hologic following the fiscal Q3 report. The company expects to exit fiscal 2024 at operating margins between 30%-31%, a slight softening from prior comments which called for “approaching 31%” previously as the Skeletal Health dynamics weigh on expenses, the analyst tells investors in a research note. The firm says that while Hologic’s core business dynamics are solid, Skeletal Health supplier issues create a new “bone to pick” for investors. BTIG sees limited multiple expansion opportunities for Hologic at its current growth rates.