Hologic (NASDAQ:HOLX) Coverage Initiated at Wolfe Research

Analysts at Wolfe Research initiated coverage on shares of Hologic (NASDAQ:HOLX) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set a “peer perform” rating on the medical equipment provider’s stock.

HOLX has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of Hologic in a research report on Tuesday, December 10th. They set a “hold” rating and a $85.00 price target on the stock. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. UBS Group upped their price objective on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Hologic Trading Down 1.9 %

Shares of HOLX stock opened at $73.65 on Friday. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.38 and a beta of 0.96. The firm has a 50-day moving average price of $79.32 and a 200 day moving average price of $78.59. Hologic has a twelve month low of $70.24 and a twelve month high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts forecast that Hologic will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Hologic by 0.8% during the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock worth $847,944,000 after purchasing an additional 81,057 shares in the last quarter. FMR LLC grew its stake in shares of Hologic by 64.0% during the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after buying an additional 2,174,093 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Hologic by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock valued at $208,051,000 after purchasing an additional 18,774 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Hologic by 8.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider’s stock valued at $200,952,000 after acquiring an additional 195,285 shares during the period. Finally, Black Creek Investment Management Inc. raised its position in Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after purchasing an additional 885,524 shares during the last quarter. 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.