Hologic (NASDAQ:HOLX) Price Target Increased to $78.00 by Analysts at Evercore ISI

Hologic (NASDAQ:HOLX) had its target price upped by Evercore ISI from $76.00 to $78.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

A number of other brokerages have also issued reports on HOLX. Citigroup raised shares of Hologic from a neutral rating to a buy rating and boosted their target price for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday. Stephens started coverage on shares of Hologic in a research report on Thursday, June 27th. They set an overweight rating and a $87.00 target price on the stock. Needham & Company LLC reaffirmed a buy rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday. Finally, StockNews.com raised shares of Hologic from a hold rating to a buy rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Hologic presently has a consensus rating of Moderate Buy and a consensus price target of $87.60.

Hologic Price Performance

Shares of Hologic stock opened at $83.20 on Tuesday. The firm has a fifty day simple moving average of $75.14 and a 200-day simple moving average of $75.25. The company has a current ratio of 3.99, a quick ratio of 3.29 and a debt-to-equity ratio of 0.51. Hologic has a 1-year low of $64.02 and a 1-year high of $83.27. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 2.59 and a beta of 0.99.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share 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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Hologic’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Hologic will post 4.08 earnings per share for the current year.

Insider Transactions at Hologic

In other Hologic news, insider Stephen P. Macmillan 44,039 shares of Hologic stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Hologic news, insider Stephen P. Macmillan 44,039 shares of Hologic stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The disclosure for this sale can be found here. 1.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOLX. Raymond James & Associates lifted its position in Hologic by 9.9% during the 4th quarter. Raymond James & Associates now owns 276,880 shares of the medical equipment provider’s stock worth $19,783,000 after buying an additional 24,867 shares in the last quarter. Fifth Third Bancorp lifted its position in Hologic by 9.3% during the 4th quarter. Fifth Third Bancorp now owns 41,331 shares of the medical equipment provider’s stock worth $2,953,000 after buying an additional 3,518 shares in the last quarter. Ballentine Partners LLC acquired a new position in Hologic during the 4th quarter worth about $262,000. Arizona State Retirement System lifted its position in Hologic by 0.3% during the 4th quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after buying an additional 172 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Hologic by 2.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 99,725 shares of the medical equipment provider’s stock worth $7,106,000 after buying an additional 1,937 shares in the last quarter. Institutional investors and hedge funds 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.