Hologic (NASDAQ:HOLX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a hold rating to a buy rating in a research report sent to investors on Thursday.

HOLX has been the topic of a number of other reports. UBS Group lifted their price target on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI lifted their target price on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Mizuho decreased their price target on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Raymond James raised their price target on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Hologic currently has an average rating of “Moderate Buy” and an average price target of $89.91.

Hologic Stock Up 1.4 %

Shares of HOLX stock traded up $1.07 on Thursday, hitting $78.61. The stock had a trading volume of 1,238,598 shares, compared to its average volume of 1,591,262. Hologic has a one year low of $67.59 and a one year high of $84.67. The business has a 50 day moving average price of $80.77 and a 200 day moving average price of $78.22. The company has a market cap of $18.26 billion, a PE ratio of 23.29, a P/E/G ratio of 2.50 and a beta of 0.98. 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 (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $978.25 million. During the same quarter in the previous year, the business posted $0.89 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Hologic will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hologic

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Hologic during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC purchased a new position in shares of Hologic in the third quarter worth about $25,000. iA Global Asset Management Inc. acquired a new stake in shares of Hologic during the first quarter worth about $37,000. Sunbelt Securities Inc. purchased a new stake in Hologic in the second quarter valued at approximately $37,000. Finally, First Horizon Advisors Inc. increased its holdings in Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 shares during the period. 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.