Citigroup Issues Pessimistic Forecast for Hologic (NASDAQ:HOLX) Stock Price

Hologic (NASDAQ:HOLX) had its price target reduced by investment analysts at Citigroup from $80.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s price objective points to a potential upside of 11.67% from the stock’s current price.

Other equities analysts have also issued reports about the company. BNP Paribas upgraded Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Raymond James restated an “outperform” rating and issued a $90.00 target price (down from $95.00) on shares of Hologic in a research note on Thursday, February 6th. UBS Group lifted their price target on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Hologic has a consensus rating of “Hold” and an average price target of $84.62.

Hologic Stock Performance

Shares of Hologic stock traded down $0.59 during trading on Tuesday, reaching $62.68. The company’s stock had a trading volume of 561,989 shares, compared to its average volume of 2,322,760. The business’s fifty day moving average price is $68.98 and its 200-day moving average price is $75.78. Hologic has a one year low of $62.63 and a one year high of $84.67. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49.

Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. As a group, equities research analysts predict that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Covestor Ltd raised its position in shares of Hologic by 23.8% in the 3rd quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 133 shares during the period. First Horizon Advisors Inc. raised its holdings in Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares during the period. Brooklyn Investment Group boosted its position in shares of Hologic by 14.7% during the fourth quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 145 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Hologic by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock valued at $690,000 after buying an additional 147 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 159 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.