Hologic (NASDAQ:HOLX) Price Target Increased to $82.00 by Analysts at Evercore ISI

Hologic (NASDAQ:HOLX) had its price target lifted by Evercore ISI from $78.00 to $82.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an in-line rating on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated a sector perform rating and issued a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. Stephens reaffirmed an overweight rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a buy rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, September 17th. Citigroup downgraded Hologic from a buy rating to a neutral rating and lowered their price objective for the company from $95.00 to $85.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Hologic from $91.00 to $95.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $87.00.

Hologic Trading Down 1.1 %

NASDAQ HOLX opened at $80.56 on Tuesday. The firm has a 50 day simple moving average of $81.19 and a 200-day simple moving average of $77.36. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 2.58 and a beta of 0.98. 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 has a one year low of $64.02 and a one year high of $84.67.

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

Insider Buying and Selling at Hologic

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOLX. Anchor Investment Management LLC raised its position in shares of Hologic by 6.7% during the 2nd quarter. Anchor Investment Management LLC now owns 7,930 shares of the medical equipment provider’s stock worth $589,000 after purchasing an additional 500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hologic in the second quarter worth $100,000. Sanctuary Advisors LLC bought a new stake in Hologic in the second quarter valued at $1,212,000. Quarry LP boosted its holdings in shares of Hologic by 323.7% during the second quarter. Quarry LP now owns 1,809 shares of the medical equipment provider’s stock valued at $134,000 after acquiring an additional 1,382 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Hologic during the second quarter worth about $37,000. 94.73% of the stock is currently owned by 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.