Argus Downgrades Hologic (NASDAQ:HOLX) to Hold

Hologic (NASDAQ:HOLX) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Monday,Finviz reports.

HOLX has been the topic of several other research reports. Stephens reiterated an “overweight” rating and issued a $84.00 target price on shares of Hologic in a research note on Thursday, February 6th. Leerink Partners cut Hologic from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $80.00 to $75.00 in a research report on Thursday, February 6th. UBS Group lifted their target price on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Hologic has an average rating of “Hold” and an average price target of $85.77.

Hologic Stock Up 0.3 %

HOLX stock opened at $63.38 on Monday. The business has a 50 day moving average of $69.16 and a 200 day moving average of $75.90. The firm has a market cap of $14.22 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Hologic has a twelve month low of $62.69 and a twelve month high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. On average, research analysts forecast that Hologic will post 4.28 EPS for the current fiscal year.

Insider Transactions at Hologic

In other Hologic 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 value of $1,897,507.04. Following the completion of the sale, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in Hologic by 0.8% in the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock worth $847,944,000 after buying an additional 81,057 shares during the period. Geode Capital Management LLC lifted its position in shares of Hologic by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock valued at $412,159,000 after acquiring an additional 144,838 shares in the last quarter. FMR LLC raised its stake in Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the period. Victory Capital Management Inc. lifted its holdings in Hologic by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock worth $354,506,000 after purchasing an additional 24,358 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Hologic by 3.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider’s stock worth $322,272,000 after purchasing an additional 129,035 shares during the period. 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.