Hologic (NASDAQ:HOLX) Coverage Initiated by Analysts at Stephens

Stephens initiated coverage on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $87.00 price target on the medical equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a report on Friday, May 3rd. Evercore ISI lifted their price target on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a report on Thursday, April 4th. Argus boosted their target price on shares of Hologic from $89.00 to $95.00 and gave the company a buy rating in a report on Thursday, May 9th. Citigroup raised shares of Hologic from a neutral rating to a buy rating and upped their target price for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $90.00 target price on shares of Hologic in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $85.73.

Hologic Stock Performance

NASDAQ:HOLX opened at $74.21 on Thursday. The stock has a market cap of $17.32 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The firm’s fifty day simple moving average is $74.35 and its 200 day simple moving average is $74.23. Hologic has a twelve month low of $64.02 and a twelve month high of $82.45. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, research analysts predict that Hologic will post 4.08 EPS for the current year.

Institutional Trading of Hologic

Institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in Hologic during the 4th quarter valued at about $27,000. iA Global Asset Management Inc. purchased a new stake in Hologic during the 1st quarter valued at about $37,000. Massmutual Trust Co. FSB ADV grew its position in Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 227 shares during the last quarter. Allworth Financial LP grew its position in Hologic by 39.3% during the 4th quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 179 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Hologic during the 1st quarter valued at about $48,000. 94.73% of the stock is owned by hedge funds and other 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.