Hologic (NASDAQ:HOLX) Rating Lowered to “Hold” at Needham & Company LLC

Hologic (NASDAQ:HOLX) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $90.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 25.73% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group boosted their price objective on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Raymond James boosted their price target on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.92.

Hologic Trading Down 0.2 %

Shares of Hologic stock opened at $71.58 on Monday. The firm’s 50 day moving average is $73.05 and its 200 day moving average is $77.98. The firm has a market capitalization of $16.16 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Hologic has a 1 year low of $68.61 and a 1 year 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 earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Hologic will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hologic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prentiss Smith & Co. Inc. lifted its position in shares of Hologic by 0.3% during the third quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock valued at $3,967,000 after purchasing an additional 130 shares in the last quarter. Covestor Ltd lifted its position in shares of Hologic by 23.8% during the 3rd quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 133 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of 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 last quarter. Brooklyn Investment Group boosted its stake in shares of Hologic by 14.7% in the 4th quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock worth $82,000 after buying an additional 145 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Hologic by 1.8% in the third quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock valued at $690,000 after acquiring an additional 147 shares in the last quarter. 94.73% of the stock is owned by 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.