Hologic (NASDAQ:HOLX) Shares Gap Down After Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX) gapped down prior to trading on Tuesday after Mizuho lowered their price target on the stock from $90.00 to $87.00. The stock had previously closed at $83.72, but opened at $79.98. Mizuho currently has an outperform rating on the stock. Hologic shares last traded at $79.47, with a volume of 421,077 shares changing hands.

A number of other analysts have also recently issued reports on HOLX. Royal Bank of Canada upped their target price on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday. Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Leerink Partners decreased their price target on Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Stephens reissued an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.25.

Hedge Funds Weigh In On Hologic

Hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its holdings in Hologic by 188.9% during the 1st quarter. Cetera Investment Advisers now owns 20,464 shares of the medical equipment provider’s stock valued at $1,595,000 after acquiring an additional 13,380 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Hologic by 51.4% during the first quarter. Clearbridge Investments LLC now owns 518,596 shares of the medical equipment provider’s stock worth $40,430,000 after buying an additional 176,006 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Hologic by 18.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,184,427 shares of the medical equipment provider’s stock worth $170,297,000 after buying an additional 338,212 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Hologic during the first quarter worth about $1,793,000. Finally, Andra AP fonden grew its holdings in shares of Hologic by 224.5% during the second quarter. Andra AP fonden now owns 95,400 shares of the medical equipment provider’s stock worth $7,083,000 after buying an additional 66,000 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Trading Down 4.5 %

The firm has a market capitalization of $18.57 billion, a PE ratio of 27.19, a P/E/G ratio of 2.98 and a beta of 0.98. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $81.06 and its 200 day moving average price is $78.08.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts expect that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

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.