Hologic’s (HOLX) Outperform Rating Reaffirmed at William Blair

William Blair reiterated their outperform rating on shares of Hologic (NASDAQ:HOLX) in a research report report published on Monday,RTT News reports.

Several other brokerages also recently commented on HOLX. Wolfe Research began coverage on Hologic in a research note on Friday, December 13th. They issued a “peer perform” rating for the company. Mizuho reduced their price objective on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Monday. Leerink Partners cut their target price on Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, UBS Group boosted their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.92.

Hologic Price Performance

Shares of HOLX opened at $70.29 on Monday. The firm has a market cap of $15.95 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. Hologic has a 52-week low of $69.46 and a 52-week high of $84.67. The business’s 50 day moving average price is $75.61 and its two-hundred day moving average price is $78.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. Hologic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. On average, equities analysts anticipate that Hologic will post 4.28 EPS for the current year.

Insider Buying and Selling

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction dated 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 sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Hologic

Hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new stake in Hologic in the 3rd quarter worth about $25,000. General Partner Inc. purchased a new position in shares of Hologic in the fourth quarter worth about $26,000. Groupama Asset Managment raised its position in shares of Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 2,999 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Hologic during the 2nd quarter valued at approximately $37,000. Finally, First Horizon Advisors Inc. boosted its holdings in Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 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.