Hologic (NASDAQ:HOLX) Given “Buy” Rating at Needham & Company LLC

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

A number of other equities analysts have also weighed in on HOLX. StockNews.com upgraded shares of Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Raymond James boosted their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group assumed 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. Leerink Partners lowered their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Seven investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.92.

Hologic Stock Down 2.0 %

HOLX stock opened at $70.29 on Monday. The stock has a market capitalization of $15.95 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.32 and a beta of 0.97. The firm has a 50-day simple moving average of $75.61 and a 200-day simple moving average of $78.53. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. Hologic has a 52 week low of $69.46 and a 52 week high of $84.67.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Equities analysts forecast that Hologic will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several large investors have recently added to or reduced their stakes in the business. Benson Investment Management Company Inc. purchased a new stake in Hologic during the 4th quarter worth approximately $4,832,000. Clean Yield Group increased its stake in Hologic by 18.9% during the 4th quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock worth $3,291,000 after buying an additional 7,266 shares during the period. Czech National Bank increased its stake in Hologic by 6.4% during the 4th quarter. Czech National Bank now owns 50,362 shares of the medical equipment provider’s stock worth $3,631,000 after buying an additional 3,046 shares during the period. Fulton Bank N.A. purchased a new stake in shares of Hologic in the 4th quarter valued at approximately $287,000. Finally, Diversified Trust Co purchased a new stake in shares of Hologic in the 4th quarter valued at approximately $506,000. 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.