Hologic, Inc. (NASDAQ:HOLX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Hologic, Inc. (NASDAQ:HOLX) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $89.91.

A number of analysts recently issued reports on the company. Stephens restated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. 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 report on Tuesday, November 5th. UBS Group upped their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Finally, Raymond James upped their target price on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Hologic Stock Performance

Shares of NASDAQ:HOLX opened at $79.00 on Wednesday. The firm has a fifty day simple moving average of $80.38 and a two-hundred day simple moving average of $78.38. Hologic has a 52 week low of $67.59 and a 52 week high of $84.67. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $18.35 billion, a P/E ratio of 23.72, a PEG ratio of 2.49 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released 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. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The company had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Hologic will post 4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Hologic in the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC purchased a new stake in Hologic during the third quarter worth $25,000. Groupama Asset Managment boosted its position in Hologic by 9.9% during the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 2,999 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Hologic in the 1st quarter valued at $37,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Hologic in the 2nd quarter worth $37,000. 94.73% of the stock is currently 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.