Hologic (NASDAQ:HOLX) Earns Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Hologic (NASDAQ:HOLX) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $90.00 target price on the medical equipment provider’s stock, down from their prior target price of $95.00.

Several other equities analysts also recently commented on the company. Mizuho dropped their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of Hologic in a research report on Tuesday, December 10th. They set a “hold” rating and a $85.00 target price on the stock. Needham & Company LLC cut shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Hologic Stock Performance

Shares of NASDAQ HOLX opened at $65.45 on Thursday. The company has a market capitalization of $14.77 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.35 and a beta of 0.98. The stock has a 50 day moving average of $72.63 and a 200-day moving average of $77.86. Hologic has a 12 month low of $64.87 and a 12 month high of $84.67. 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 posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. As a group, equities research analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This 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. Insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

A number of institutional investors have recently added to or reduced their stakes in HOLX. FMR LLC boosted its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after purchasing an additional 2,174,093 shares in the last quarter. Nordea Investment Management AB boosted its position in Hologic by 32.7% during the 4th quarter. Nordea Investment Management AB now owns 2,213,607 shares of the medical equipment provider’s stock valued at $159,911,000 after buying an additional 544,889 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Hologic in the fourth quarter worth about $27,007,000. Swedbank AB increased its stake in shares of Hologic by 18.8% during the third quarter. Swedbank AB now owns 1,937,002 shares of the medical equipment provider’s stock valued at $157,788,000 after buying an additional 306,562 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Hologic by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,358,945 shares of the medical equipment provider’s stock worth $110,700,000 after purchasing an additional 238,222 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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.