StockNews.com Upgrades Hologic (NASDAQ:HOLX) to Buy

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

HOLX has been the topic of a number of other reports. Royal Bank of Canada raised their target price on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Evercore ISI boosted their price objective on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Leerink Partners cut their target price on Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Tuesday, October 15th. Finally, Raymond James lifted their target price on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

Hologic Price Performance

NASDAQ:HOLX opened at $78.60 on Thursday. The stock has a 50 day moving average of $80.71 and a two-hundred day moving average of $78.23. Hologic has a 12 month low of $67.59 and a 12 month high of $84.67. The firm has a market cap of $18.26 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.98. 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 issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, analysts expect that Hologic will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hologic

Several institutional investors and hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new stake in Hologic during the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in Hologic in the 2nd quarter valued at approximately $25,000. iA Global Asset Management Inc. acquired a new position in shares of Hologic in the first quarter worth $37,000. First Horizon Advisors Inc. increased its position in shares of Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 134 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Hologic in the second quarter valued at $37,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.