Brokerages Set Hologic, Inc. (NASDAQ:HOLX) Price Target at $87.60

Hologic, Inc. (NASDAQ:HOLX) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $87.60.

A number of analysts recently issued reports on HOLX shares. 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 Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Tuesday, July 30th. StockNews.com raised shares of Hologic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th.

Hologic Price Performance

Shares of HOLX stock opened at $81.15 on Friday. The stock has a 50 day moving average price of $80.20 and a 200 day moving average price of $76.86. Hologic has a 52-week low of $64.02 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The firm has a market capitalization of $18.85 billion, a P/E ratio of 41.40, a P/E/G ratio of 2.53 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. As a group, sell-side analysts predict that Hologic will post 4.09 earnings per share for the current year.

Insider Activity at Hologic

In other Hologic news, insider Brandon Schnittker sold 476 shares of Hologic stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares of the company’s stock, valued at $310,415.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The disclosure for this sale can be found here. Insiders sold 18,280 shares of company stock valued at $1,469,973 over the last 90 days. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares during the period. Graypoint LLC boosted its position in Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Hologic by 2.3% in the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after buying an additional 165 shares during the last quarter. Parallel Advisors LLC increased its holdings in Hologic by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 189 shares during the period. Finally, Brown Advisory Inc. raised its position in Hologic by 0.3% during the 4th quarter. Brown Advisory Inc. now owns 74,438 shares of the medical equipment provider’s stock worth $5,319,000 after buying an additional 192 shares during the last quarter. 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.