Hologic (NASDAQ:HOLX) Downgraded by StockNews.com

StockNews.com cut shares of Hologic (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a report published on Friday morning.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $90.00 price target on shares of Hologic in a report on Tuesday, September 17th. Royal Bank of Canada reissued a sector perform rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Stephens reissued an overweight rating and issued a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Finally, Evercore ISI upped their price target on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $87.60.

Hologic Stock Performance

HOLX stock opened at $80.82 on Friday. The company has a market capitalization of $18.86 billion, a P/E ratio of 41.23, a PEG ratio of 2.58 and a beta of 0.98. The company has a 50-day simple moving average of $81.08 and a 200 day simple moving average of $77.27. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data 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. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 earnings per share. Sell-side analysts predict that Hologic will post 4.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the transaction, the director now owns 45,472 shares in the company, valued at approximately $3,615,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benjamin Jordan Cohn sold 5,093 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the transaction, the insider now owns 10,476 shares in the company, valued at $858,927.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares in the company, valued at approximately $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock worth $1,469,973 in the last 90 days. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

A number of large investors have recently added to or reduced their stakes in HOLX. D.A. Davidson & CO. bought a new stake in Hologic during the fourth quarter worth approximately $204,000. Parallel Advisors LLC boosted its position in Hologic by 11.5% during the fourth quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock worth $131,000 after purchasing an additional 189 shares during the period. TFO Wealth Partners LLC boosted its position in Hologic by 60,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,263 shares of the medical equipment provider’s stock worth $305,000 after purchasing an additional 4,256 shares during the period. Bank of Nova Scotia boosted its position in shares of Hologic by 68.8% in the fourth quarter. Bank of Nova Scotia now owns 48,242 shares of the medical equipment provider’s stock valued at $3,447,000 after acquiring an additional 19,660 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Hologic by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 409,063 shares of the medical equipment provider’s stock valued at $29,228,000 after acquiring an additional 14,100 shares during the period. 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.