Hologic (NASDAQ:HOLX) Downgraded to “Hold” Rating by Argus

Argus downgraded shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports.

Other equities analysts have also recently issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of Hologic in a report on Thursday, February 6th. Stephens reaffirmed an “overweight” rating and issued a $84.00 price target on shares of Hologic in a report on Thursday, February 6th. BNP Paribas raised Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Monday, February 3rd. Finally, Evercore ISI reduced their target price on Hologic from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Hologic has an average rating of “Hold” and a consensus target price of $85.77.

Hologic Stock Down 0.2 %

Shares of HOLX opened at $63.27 on Monday. Hologic has a 52 week low of $62.69 and a 52 week high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.14 and a beta of 0.97. The stock’s 50-day moving average price is $68.98 and its 200-day moving average price is $75.78.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. On average, sell-side analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This represents 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. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. General Partner Inc. purchased a new position in Hologic in the fourth quarter worth approximately $26,000. Groupama Asset Managment grew its position in Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 2,999 shares during the period. Venturi Wealth Management LLC grew its position in Hologic by 156.3% in the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 261 shares during the period. First Horizon Advisors Inc. grew its position in Hologic by 38.3% in 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, EverSource Wealth Advisors LLC grew its position in Hologic by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 260 shares during the period. 94.73% of the stock is currently owned by hedge funds and other 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.