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

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Tuesday,Briefing.com Automated Import reports. They currently have a $90.00 target price on the medical equipment provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 16.20% from the stock’s previous close.

Several other research analysts also recently commented on HOLX. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada raised their price objective on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Mizuho cut their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Leerink Partners cut their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Hologic Stock Performance

Shares of Hologic stock traded up $1.66 on Tuesday, reaching $77.45. 2,431,057 shares of the company traded hands, compared to its average volume of 1,604,312. Hologic has a 52 week low of $68.15 and a 52 week high of $84.67. The company has a 50 day moving average of $79.69 and a 200 day moving average of $78.58. The firm has a market capitalization of $17.58 billion, a PE ratio of 23.16, a PEG ratio of 2.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03.

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

Insider Activity

In other news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction 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 owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in Hologic by 188.9% in the 1st quarter. Cetera Investment Advisers now owns 20,464 shares of the medical equipment provider’s stock worth $1,595,000 after purchasing an additional 13,380 shares during the period. Andra AP fonden grew its holdings in Hologic by 224.5% in the 2nd quarter. Andra AP fonden now owns 95,400 shares of the medical equipment provider’s stock worth $7,083,000 after acquiring an additional 66,000 shares during the last quarter. Swedbank AB grew its holdings in Hologic by 5.2% in the 2nd quarter. Swedbank AB now owns 1,630,440 shares of the medical equipment provider’s stock worth $121,060,000 after acquiring an additional 80,575 shares during the last quarter. GAMMA Investing LLC grew its holdings in Hologic by 17.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock worth $312,000 after acquiring an additional 582 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Hologic by 56.1% in the 2nd quarter. Quest Partners LLC now owns 41,492 shares of the medical equipment provider’s stock worth $3,081,000 after acquiring an additional 14,914 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.