Hologic (NASDAQ:HOLX) Price Target Raised to $82.00

Hologic (NASDAQ:HOLX) had its price objective increased by Evercore ISI from $78.00 to $82.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target would suggest a potential upside of 1.59% from the company’s previous close.

Other analysts have also issued reports about the stock. Stephens reaffirmed an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday. Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $85.00 in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.00.

Hologic Stock Down 0.9 %

Shares of HOLX stock traded down $0.74 during trading on Tuesday, reaching $80.72. The company’s stock had a trading volume of 296,402 shares, compared to its average volume of 1,592,962. The business has a fifty day moving average price of $81.14 and a 200-day moving average price of $77.33. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. Hologic has a one year low of $64.02 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that Hologic will post 4.09 earnings per share for the current year.

Insider Activity at Hologic

In related news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now directly owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandon Schnittker sold 476 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the sale, the insider now owns 3,735 shares in the company, valued at $310,415.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,280 shares of company stock worth $1,469,973. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

A number of large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in Hologic by 24.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 137 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock worth $302,000 after acquiring an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Hologic by 2.3% in the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock worth $536,000 after acquiring an additional 165 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Hologic by 11.5% in the fourth quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock worth $131,000 after acquiring an additional 189 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hologic by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,112 shares of the medical equipment provider’s stock worth $2,425,000 after acquiring an additional 192 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.