Hologic’s (HOLX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Hologic (NASDAQ:HOLX) in a report published on Tuesday, Benzinga reports. They currently have a $90.00 price target on the medical equipment provider’s stock.

A number of other equities research analysts have also weighed in on the company. StockNews.com upgraded Hologic from a buy rating to a strong-buy rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a sector perform rating and issued a $82.00 price objective on shares of Hologic in a report on Friday, August 16th. Stephens reissued an overweight rating and set a $92.00 target price on shares of Hologic in a report on Tuesday, July 30th. Finally, Evercore ISI raised their price target on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hologic currently has an average rating of Moderate Buy and a consensus price target of $87.60.

Hologic Stock Performance

NASDAQ:HOLX opened at $81.39 on Tuesday. Hologic has a twelve month low of $64.02 and a twelve month high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $80.74 and its 200 day simple moving average is $77.05. The firm has a market capitalization of $18.99 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, analysts anticipate that Hologic will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at Hologic

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now directly owns 45,472 shares of the company’s stock, valued at $3,615,024. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,280 shares of company stock valued at $1,469,973. 1.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hologic

A number of large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in Hologic by 24.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 137 shares during the last quarter. Graypoint LLC raised its holdings in shares of Hologic by 3.9% in the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock worth $302,000 after acquiring an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Hologic by 2.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after purchasing an additional 165 shares during the last quarter. Parallel Advisors LLC boosted its stake in Hologic by 11.5% during the 4th quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock valued at $131,000 after purchasing an additional 189 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in Hologic by 0.3% during the 4th quarter. Brown Advisory Inc. now owns 74,438 shares of the medical equipment provider’s stock worth $5,319,000 after purchasing an additional 192 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.