Hologic (NASDAQ:HOLX) Downgraded by StockNews.com to “Hold”

Hologic (NASDAQ:HOLX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other brokerages have also recently commented on HOLX. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Tuesday, October 15th. UBS Group upped their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Raymond James upped their price target on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday. Mizuho decreased their price target on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Leerink Partners decreased their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Hologic Trading Down 1.5 %

HOLX opened at $79.29 on Wednesday. The stock has a market capitalization of $18.42 billion, a P/E ratio of 23.81, a P/E/G ratio of 3.03 and a beta of 0.98. Hologic has a 12 month low of $66.93 and a 12 month high of $84.67. The firm’s fifty day simple moving average is $81.02 and its 200 day simple moving average is $78.13. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 20.11%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. As a group, research analysts anticipate that Hologic will post 4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after acquiring an additional 2,753,016 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Hologic by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after buying an additional 450,190 shares during the period. Black Creek Investment Management Inc. increased its position in shares of Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after buying an additional 885,524 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Hologic by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock worth $172,780,000 after buying an additional 124,739 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Hologic by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider’s stock worth $168,666,000 after buying an additional 87,176 shares during the period. 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.