Hologic (NASDAQ:HOLX) Shares Gap Down After Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s share price gapped down prior to trading on Tuesday after Mizuho lowered their price target on the stock from $90.00 to $87.00. The stock had previously closed at $83.72, but opened at $79.98. Mizuho currently has an outperform rating on the stock. Hologic shares last traded at $79.47, with a volume of 421,077 shares changing hands.

A number of other research analysts have also recently weighed in on the stock. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Leerink Partners reduced their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Stephens reissued an “overweight” rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.25.

Institutional Investors Weigh In On Hologic

Several institutional investors have recently bought and sold shares of HOLX. Price T Rowe Associates Inc. MD lifted its holdings in Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after purchasing an additional 2,753,016 shares during the period. Swedbank AB acquired a new position in shares of Hologic in the 1st quarter valued at about $120,827,000. Black Creek Investment Management Inc. increased its holdings in shares of Hologic by 60.9% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after purchasing an additional 885,524 shares during the period. Mackenzie Financial Corp increased its holdings in Hologic by 1,023.3% in the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after buying an additional 815,960 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Hologic in the second quarter worth approximately $39,427,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Stock Down 4.5 %

The business has a fifty day moving average of $81.06 and a 200 day moving average of $78.08. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 2.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Hologic, Inc. will post 4.09 earnings per share for the current year.

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.