Hologic (NASDAQ:HOLX) Upgraded at StockNews.com

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

A number of other analysts have also recently commented on HOLX. JPMorgan Chase & Co. upped their price target on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Leerink Partners dropped their target price on 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 reiterated a “buy” rating and issued a $90.00 price target on shares of Hologic in a research report on Tuesday, October 15th. Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $85.00 in a research note on Tuesday, October 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Hologic in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.91.

Hologic Price Performance

Hologic stock opened at $78.60 on Thursday. The business’s 50 day simple moving average is $80.71 and its 200 day simple moving average is $78.26. Hologic has a 12 month low of $67.59 and a 12 month high of $84.67. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.48 and a beta of 0.98. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last issued 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 return on equity of 19.79% and a net margin of 19.59%. The firm had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Hologic will post 4.27 EPS for the current year.

Institutional Trading of Hologic

A number of hedge funds have recently made changes to their positions in the stock. M&T Bank Corp lifted its stake in Hologic by 0.8% during the third quarter. M&T Bank Corp now owns 26,368 shares of the medical equipment provider’s stock worth $2,148,000 after purchasing an additional 201 shares during the last quarter. Barclays PLC raised its holdings in shares of Hologic by 47.6% during the 3rd quarter. Barclays PLC now owns 718,231 shares of the medical equipment provider’s stock valued at $58,507,000 after buying an additional 231,578 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Hologic by 9.9% during the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 2,999 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Hologic by 26.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 119,646 shares of the medical equipment provider’s stock worth $9,746,000 after buying an additional 24,842 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Hologic in the third quarter worth approximately $1,985,000. 94.73% of the stock is owned by institutional investors.

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.