Hologic, Inc. (NASDAQ:HOLX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Hologic, Inc. (NASDAQ:HOLX) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $88.92.

Several brokerages have recently issued reports on HOLX. BNP Paribas upgraded Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group started coverage on shares of Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price target on the stock. Raymond James raised their price objective on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and cut their target price for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hologic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Benson Investment Management Company Inc. purchased a new stake in shares of Hologic during the 4th quarter worth about $4,832,000. Clean Yield Group raised its position in Hologic by 18.9% during the fourth quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock valued at $3,291,000 after acquiring an additional 7,266 shares in the last quarter. GAMMA Investing LLC lifted its stake in Hologic by 17.9% in the third quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock valued at $312,000 after acquiring an additional 582 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Hologic by 2.9% in the third quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider’s stock valued at $2,344,000 after acquiring an additional 800 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Hologic in the third quarter worth approximately $1,677,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Performance

Shares of HOLX opened at $69.73 on Thursday. Hologic has a 52-week low of $68.61 and a 52-week high of $84.67. The firm has a market capitalization of $15.82 billion, a PE ratio of 20.94, a P/E/G ratio of 2.44 and a beta of 0.97. The firm has a 50-day moving average price of $74.65 and a 200 day moving average price of $78.38. 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 (NASDAQ:HOLX) last posted its quarterly earnings data 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 net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Hologic will post 4.28 earnings per share for the current fiscal year.

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.