Hologic (NASDAQ:HOLX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Hologic (NASDAQ:HOLX) in a research report report published on Tuesday, Benzinga reports. They currently have a $90.00 price target on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a sector perform rating and issued a $82.00 price target on shares of Hologic in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price target 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. StockNews.com upgraded shares of Hologic from a buy rating to a strong-buy rating in a research report on Tuesday, September 10th. Evercore ISI increased their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Tuesday, July 30th. Finally, Stephens restated an overweight rating and set a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic has a consensus rating of Moderate Buy and an average target price of $87.60.

Hologic Trading Down 0.8 %

HOLX stock opened at $82.00 on Tuesday. Hologic has a one year low of $64.02 and a one year high of $84.67. The company has a market capitalization of $19.14 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company’s 50 day moving average price is $80.36 and its two-hundred day moving average price is $76.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99.

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

Insider Buying and Selling

In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total transaction of $417,575.07. Following the sale, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Benjamin Jordan Cohn sold 5,093 shares of Hologic stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the transaction, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The disclosure for this sale can be found here. Insiders have sold a total of 18,280 shares of company stock valued at $1,469,973 over the last ninety days. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Hologic in the 2nd quarter worth about $25,000. iA Global Asset Management Inc. bought a new position in shares of Hologic in the first quarter worth approximately $37,000. Sunbelt Securities Inc. purchased a new stake in shares of Hologic during the second quarter valued at approximately $37,000. Cranbrook Wealth Management LLC bought a new stake in shares of Hologic during the second quarter valued at approximately $47,000. Finally, Mather Group LLC. purchased a new position in Hologic in the 1st quarter worth approximately $48,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.