Hologic (NASDAQ:HOLX) Now Covered by Stephens

Analysts at Stephens began coverage on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set an “overweight” rating and a $87.00 price target on the medical equipment provider’s stock. Stephens’ price objective would indicate a potential upside of 20.38% from the company’s current price.

Several other equities analysts have also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Argus increased their target price on Hologic from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Evercore ISI boosted their price target on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.73.

Hologic Stock Up 0.9 %

Shares of NASDAQ:HOLX opened at $72.27 on Thursday. The company has a 50 day moving average of $74.36 and a two-hundred day moving average of $74.23. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.39 and a beta of 1.00. Hologic has a 52-week low of $64.02 and a 52-week high of $82.45. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $1.06 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that Hologic will post 4.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hologic

Institutional investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Hologic in the 4th quarter worth $27,000. iA Global Asset Management Inc. bought a new stake in Hologic in the first quarter worth about $37,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 227 shares in the last quarter. Allworth Financial LP grew its stake in shares of Hologic by 39.3% in the 4th quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 179 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Hologic in the 1st quarter worth approximately $48,000. 94.73% of the stock is currently 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.