Hologic (NASDAQ:HOLX) Rating Lowered to “Hold” at StockNews.com

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

HOLX has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Evercore ISI lifted their target price on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Leerink Partners reduced their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, 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 note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Hologic has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Hologic Price Performance

HOLX opened at $79.29 on Wednesday. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 3.03 and a beta of 0.98. The stock’s 50-day moving average price is $81.02 and its 200 day moving average price is $78.13. Hologic has a 12-month low of $66.93 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 20.11%. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter last year, the company posted $0.89 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Hologic will post 4.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOLX. Prentiss Smith & Co. Inc. lifted its position in shares of Hologic by 0.3% in the 3rd quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock worth $3,967,000 after buying an additional 130 shares during the last quarter. Covestor Ltd grew its position in 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 purchasing an additional 133 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Hologic by 20.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 831 shares of the medical equipment provider’s stock worth $62,000 after acquiring an additional 140 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Hologic by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock valued at $690,000 after purchasing an additional 147 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of Hologic by 3.7% in the third quarter. Wedmont Private Capital now owns 4,519 shares of the medical equipment provider’s stock worth $361,000 after purchasing an additional 162 shares in 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.