Piper Jaffray Reports on Hologic

Piper Jaffray commented on Hologic HOLX in a report released today. In the report, Piper Jaffray was positive in its assessment of the company. Piper Jaffray writes, " FDA released the monthly MQSA National Statistics update, with 9,571 accredited full field digital mammography (FFDM) systems in place as of June 1, 2011, representing a 94 system increase for the month. Assuming the April/May average FFDM placements of 92 hold for June, plus the impact of the early stage replacement cycle (est. 15%, not captured by MQSA), suggests potential downside of $3.4M to our 3Q11 Breast Health estimate, although we view mix shift to higher-end system configurations (i.e. tomo-ready/enabled) represents a potential offset to weaker-than-expected placements (if current quarter-to-date trends hold). Overall, our Hologic thesis remains unchanged and we anticipate a benefit from both the early stage tomosynthesis adoption cycle and improving physician office visit trend" Piper Jaffray currently has an Overweight rating on Hologic and a price target of $26. Shares of HOLX closed at $20.82 on Wednesday, down 3.16% from the open.