Please note we are adding Hologic (HOLX) to Investing Ideas today. Below is a brief explanation from Hedgeye CEO Keith McCullough. Our Healthcare team led by Tom Tobin will provide additional color going forward.
Buy signals in HOLX have been hard to come by (the stock hasn't gone down much), but a sell-side firm downgraded it today so it's tapping the low-end of our immediate-term risk range. Tom Tobin remains The Bull.
On Wednesday July 22 we are hosting a conference call and live studio event for institutional subscribers to review our outlook for HOLX. We first added HOLX to the Hedgeye Best Idea List as a long in April 2014 when the stock was in the low $20s.
Since then, our original thesis has played out, with the stock doubling as we predicted, and many of the fundamental and sentiment drivers maturing on schedule. We will review the path into the $50s on our call next week ahead of HOLX earnings report July 29.