Hologic (NASDAQ:HOLX) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other brokerages also recently issued reports on HOLX. JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Leerink Partners lowered their price target on Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Royal Bank of Canada raised their target price on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Evercore ISI raised their target price on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Hologic currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Hologic Trading Up 2.1 %

Shares of HOLX traded up $1.69 during trading hours on Wednesday, hitting $80.49. The stock had a trading volume of 2,464,389 shares, compared to its average volume of 1,425,278. 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 firm has a market cap of $18.70 billion, a P/E ratio of 24.17, a P/E/G ratio of 3.03 and a beta of 0.98. The company’s fifty day simple moving average is $81.05 and its 200 day simple moving average is $78.12. Hologic has a 12-month low of $66.93 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Hologic had a return on equity of 20.11% and a net margin of 19.59%. The firm had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same period in the prior year, the firm earned $0.89 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Hologic will post 4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in Hologic by 188.9% in 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in Hologic by 51.4% in the first quarter. Clearbridge Investments LLC now owns 518,596 shares of the medical equipment provider’s stock worth $40,430,000 after acquiring an additional 176,006 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Hologic by 18.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,184,427 shares of the medical equipment provider’s stock worth $170,297,000 after acquiring an additional 338,212 shares during the last quarter. 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 worth $7,083,000 after acquiring an additional 66,000 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Hologic by 2.0% in the first quarter. TD Asset Management Inc now owns 1,934,841 shares of the medical equipment provider’s stock worth $150,840,000 after acquiring an additional 37,136 shares during the last quarter. 94.73% of the stock is currently 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.