Hologic (NASDAQ:HOLX) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Hologic (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Several other research analysts also recently commented on the stock. Stephens restated an overweight rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Royal Bank of Canada reissued a sector perform rating and set a $82.00 price target on shares of Hologic in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Hologic from $91.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a buy rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, September 17th. 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $87.60.

Hologic Stock Performance

HOLX opened at $81.46 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The business’s 50-day simple moving average is $81.14 and its 200 day simple moving average is $77.33. The firm has a market capitalization of $19.01 billion, a PE ratio of 41.56, a PEG ratio of 2.58 and a beta of 0.98. Hologic has a 52-week low of $64.02 and a 52-week high of $84.67.

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

Insider Activity at Hologic

In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the business’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 sale, the chief executive officer now directly 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 at this hyperlink. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The disclosure for this sale can be found here. Insiders sold a total of 18,280 shares of company stock worth $1,469,973 in the last quarter. 1.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Hologic

Hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC boosted its holdings in shares of Hologic by 6.7% during the 2nd quarter. Anchor Investment Management LLC now owns 7,930 shares of the medical equipment provider’s stock worth $589,000 after buying an additional 500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hologic in the second quarter worth $100,000. Sanctuary Advisors LLC bought a new stake in Hologic in the second quarter valued at $1,212,000. Quarry LP raised its holdings in shares of Hologic by 323.7% during the second quarter. Quarry LP now owns 1,809 shares of the medical equipment provider’s stock valued at $134,000 after purchasing an additional 1,382 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Hologic in the second quarter worth approximately $37,000. Institutional investors own 94.73% of the company’s stock.

About Hologic

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.