***Please be advised that we are removing Hologic from Investing Ideas today.
"Given my bear market view," Hedgeye CEO Keith McCullough writes, "I have everything on a shorter leash. I can always bring things back to the list." Since HOLX was added to our list, the S&P 500 has fallen -8.25%. Shares of Hologic are down 0.58%.
The takeaway right now according to Hedgeye Healthcare Sector Head Tom Tobinis is as follows:
Consensus numbers moved higher and now our 3D updates are slowing. A Breast Health miss coming in F4Q15?
It's looking like the early 2015 strength in facility has faded considerably over the last 3 months. Even if we assume placements rebound back to a more reasonable level in September, our Breast Imaging and Breast Health revenue estimates feel stretched at $190M and $234M, respectively. Consensus Breast Health is now $278M.