Hologic (NASDAQ:HOLX) Rating Lowered to Buy at StockNews.com

Hologic (NASDAQ:HOLX) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Several other equities analysts have also recently issued reports on HOLX. JPMorgan Chase & Co. raised their price objective on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday. Evercore ISI lifted their target price on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Tuesday, July 30th. Finally, Stephens reiterated an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Hologic currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Hologic Trading Down 0.8 %

NASDAQ HOLX opened at $82.00 on Wednesday. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic has a 12 month low of $64.02 and a 12 month high of $84.67. The company’s fifty day moving average price is $80.36 and its two-hundred day moving average price is $76.92.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Hologic will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now directly owns 45,472 shares in the company, valued at approximately $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock valued at $1,469,973 in the last quarter. Corporate insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HOLX. Norges Bank bought a new position in shares of Hologic during the 4th quarter valued at about $217,529,000. Price T Rowe Associates Inc. MD boosted its holdings in Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after buying an additional 2,753,016 shares in the last quarter. Swedbank AB acquired a new position in Hologic in the first quarter worth approximately $120,827,000. The Manufacturers Life Insurance Company increased its holdings in shares of Hologic by 117.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock valued at $154,598,000 after buying an additional 1,168,564 shares in the last quarter. Finally, Black Creek Investment Management Inc. lifted its position in shares of Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after acquiring an additional 885,524 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.