Hologic (NASDAQ:HOLX) Price Target Cut to $76.00

Hologic (NASDAQ:HOLX) had its target price cut by equities research analysts at Evercore ISI from $78.00 to $76.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target points to a potential upside of 3.43% from the stock’s previous close.

HOLX has been the subject of a number of other research reports. StockNews.com raised shares of 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 company a “buy” rating in a research note on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Friday, May 3rd. Stephens assumed coverage on Hologic in a report on Thursday, June 27th. They issued an “overweight” rating and a $87.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.55.

Hologic Trading Down 0.1 %

Shares of HOLX stock opened at $73.48 on Tuesday. The company has a market capitalization of $17.15 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.47 and a beta of 0.99. Hologic has a 52-week low of $64.02 and a 52-week high of $82.45. The business’s fifty day moving average is $74.14 and its 200 day moving average is $74.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97.

Hologic (NASDAQ:HOLX) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. On average, equities research analysts anticipate that Hologic will post 4.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

A number of hedge funds have recently modified their holdings of HOLX. Norges Bank bought a new stake in shares of Hologic in the fourth quarter worth about $217,529,000. Price T Rowe Associates Inc. MD grew its position in shares of Hologic by 77.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after buying an additional 2,753,016 shares during the last quarter. Swedbank AB purchased a new position in shares of Hologic during the first quarter valued at approximately $120,827,000. The Manufacturers Life Insurance Company raised its holdings in shares of Hologic by 117.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock valued at $154,598,000 after acquiring an additional 1,168,564 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Hologic during the fourth quarter valued at approximately $30,079,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.