Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website!
Hologic (HOLX) is an old favorite of mine. I last reviewed the stock on July 25, 2006. I have been an owner of shares in the past and my stock club has also owned shares at times. In fact, Hologic was the purchaser of Cytyc (CYTC) a stock that was a terrific performer. Cytyc went higher and HOLX the other way leading to a sale as I recall the sequence of events.
Today, just prior to the opening of trading, Hologic announced 4th quarter 2007 results for the quarter ended September 29, 2007. Revenue for the quarter came in at $202.5 million, a 31% increase compared to the $154.1 million in the same quarter last year. Net income was even nicer, coming in at $32.1 million or $.58/share, compared to a net loss of $(1.5) million or $(.03)/share.
The company beat expectations of $.53/share and revenue figures of $198.8 million.
HOLOGIC (HOLX) IS RATED A BUY
However, what did the street do to the stock?
In the usual over-reaction of buying on expectations and selling on the news, the street took Hologic stock apart. The stock traded as low as $59.45 today, down almost $8 from yesterday's close near $67.
With the apparently irrational move, I chose to break all of my rules and bought and sold 400 shares of HOLX today. I purchased 400 shares of HOLX at $62.9799 earlier today, and then later today with the stock moving higher, sold my 400 shares at $63.97. I guess I made my point.
I do not own any shares of HOLX as I write. The trade is done.
This isn't really my strategy of disciplined buying and selling, but once in awhile, you know what I mean, sometimes a person just has to use his/her brains and get it right. Without a buy signal and without the appropriate characteristics to add the stock into my trading account, this still represents just a trade and me 'breaking all of my rules.'
Anyhow, that's the update! If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.
Bob