Hologic, Inc (NASDAQ:HOLX) to Expand Portfolio with $3.7 Billion Acquisition of Gen-Probe Incorporated (NASDAQ:GPRO) – HOLX, BDX, TMO, BSX
Hologic, Inc (NASDAQ:HOLX) reported on Monday the $3.7 billion purchase of Gen-Probe Incorporated (NASDAQ:GPRO) would bring “double-digit” returns as the corporation sells original products to abroad marketplaces.
Chief Executive Officer of Hologic, a maker of diagnostic, medical and surgical devices, Rob Cascella reported in an interview that they were very positive that this investment will yield a low double-digit return, and that’s considerably more than their cost of capital.
The two corporations reported in a statement on Monday that investors of San Diego-based Gen-Probe will get $82.75 per share in the purchase. That’s almost 20% more than Gen-Probe’s ending price on April 27. The contract’s $3.7 billion value comprises net debt.
Becton, Dickinson and Co. (NYSE:BDX) increase +0.62% to settle at $78.45, Thermo Fisher Scientific Inc. (NYSE:TMO) moved up +1.35% to end at $55.65 while Boston Scientific Corporation (NYSE:BSX) plunged -0.16% to finish on Monday at $6.26.
Hologic, Inc. (NASDAQ:HOLX) on April 30, 2012 it decreased -9.94% to the closing price of $19.12. The overall volume in the last trading session was 27.90 million shares. Its fifty two week range was $13.90-$23.24. The total market capitalization remained $5.04 billion.
HOLX is ahead its 52 week low with +37.55% and lagging behind from its 52 week high price with -17.73%. HOLX last month stock price volatility remained 2.43%. In its share capital HOLX has 263.78 million outstanding shares among them 262.32 million shares have been floated in market exchange. HOLX stock institutional ownership remained 92.93% while insider ownership included 0.66%.
The stock price of HOLX is moving down from its 20 days moving average with -9.32% and remote negatively from 50 days moving average with -9.46%. HOLX current year earnings per share experienced an addition with +344.93% while its current quarter performance remained -0.42%. Company’s beta coefficient included 1.12. Beta factors measures the amount of market risk associated with market trade.