The acquisition, valued at about $3.7 billion, puts Hologic in the top tier of the diagnostics space, outside of its traditional market, women’s health.
Hologic said the deal should add 20¢ per adjusted share during fiscal 2013 and should be "significantly more accretive" thereafter.
News of the deal‘s closure, and strong fiscal 3rd-quarter numbers, has helped add 2.7% to HOLX shares since July 30. The stock closed at $18.75 yesterday, up from an $18.26 close July 30.
Hologic reported profits of $23.6 million, or 9¢ per share, on sales of $470.2 million during the 3 months ended June 23, for top-line growth of 4.2% but a bottom-line slide of 34.8%.
Adjusted for 1-time items, however, including $5.1 million in acquisition costs and a $1.7 million charge for the wind-down of its Adiana female sterilization line, EPS hit 35¢, just a penny shy of analysts’ expectations.
A jury awarded Conceptus $18.8 million and royalties of 20% in October 2011 after finding that the Adiana device infringed on 5 CPTS patents, and the court later denied Hologic’s motion to overturn the jury decision.
Masimo drops $30M on Swedish capnography co.
Masimo (NSDQ:MASI) said it paid $30.4 million in cash for Swedish capnography maker Phasein AB, funding the acquisition entirely with existing cash and equivalents.
CardioSolutions drums up $15M
Medical device company CardioSolutions
added $14.9 million to its coffers in an equity round, just a month after announcing an $8 million contribution from Sorin Group (BIT:SRN). In June the company won 510(k) clearance from the FDA for its Dexterity steerable heart access introducer.
Let investors in on analysts’ calls
More companies should follow the lead of Roche (PINK:RHHBY) and allow investors to participate in quarterly earnings conference calls with analysts, writes Brad Loncar on Xconomy.com.
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- Boston Scientific (NYSE:BSX): Northland Securities downgrades from "outperform" to "market perform"; TheStreet Ratings downgrades from "hold" to sell.
- Bruker Corp. (NSDQ:BRKR) : Leerink Swann downgrades from "outperform" to "market perform."
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- Edwards Lifesciences (NYSE:EW): Zacks reaffirms “neutral” rating and $106 price target.
- Hologic (NSDQ:HOLX): Cannacord Genuity lowers price target from $24 to $23, maintains “buy” rating.
- Integra LifeSciences (NSDQ:IART): Piper Jaffray reiterates "neutral" rating, raises price target from $40 to $41.
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- Teleflex (NYSE:TFX): Leerink Swann maintains "market perform" rating, raises price target to $69 from $67.
- Zeltiq (NSDQ:ZLTQ): Goldman Sacks raises price target from $5.50 to $6.00, maintains “neutral” rating.