Hologic (NASDAQ:HOLX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a hold rating to a buy rating in a research note published on Thursday.

Several other equities analysts also recently issued reports on the stock. Evercore ISI increased their price objective on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Stephens reaffirmed an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, UBS Group boosted their price target on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Hologic Price Performance

Shares of NASDAQ:HOLX traded up $1.07 during trading on Thursday, reaching $78.61. 1,238,598 shares of the company’s stock traded hands, compared to its average volume of 1,591,262. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. Hologic has a fifty-two week low of $67.59 and a fifty-two week high of $84.67. The company has a 50-day simple moving average of $80.77 and a 200-day simple moving average of $78.22. The firm has a market cap of $18.26 billion, a PE ratio of 23.29, a P/E/G ratio of 2.50 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Hologic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. As a group, analysts predict that Hologic will post 4.27 earnings per share for the current year.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of HOLX. Cetera Investment Advisers increased its position in Hologic by 188.9% during the first quarter. Cetera Investment Advisers now owns 20,464 shares of the medical equipment provider’s stock worth $1,595,000 after purchasing an additional 13,380 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Hologic by 51.4% during the 1st quarter. Clearbridge Investments LLC now owns 518,596 shares of the medical equipment provider’s stock valued at $40,430,000 after buying an additional 176,006 shares during the period. Andra AP fonden lifted its holdings in Hologic by 224.5% in the second quarter. Andra AP fonden now owns 95,400 shares of the medical equipment provider’s stock valued at $7,083,000 after acquiring an additional 66,000 shares during the last quarter. Swedbank AB grew its position in Hologic by 5.2% in the second quarter. Swedbank AB now owns 1,630,440 shares of the medical equipment provider’s stock worth $121,060,000 after acquiring an additional 80,575 shares during the period. Finally, National Bank of Canada FI increased its stake in Hologic by 352.0% during the first quarter. National Bank of Canada FI now owns 299,098 shares of the medical equipment provider’s stock worth $22,474,000 after acquiring an additional 232,928 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.