Hologic (NASDAQ:HOLX) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Hologic (NASDAQ:HOLX) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued a hold rating and a $85.00 target price on the medical equipment provider’s stock.

A number of other research analysts have also recently weighed in on HOLX. Mizuho lowered their price objective on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Leerink Partners reduced their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their target price on shares of Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Hologic Stock Performance

Shares of NASDAQ HOLX opened at $76.83 on Tuesday. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. Hologic has a 12-month low of $68.15 and a 12-month high of $84.67. The firm has a market capitalization of $17.44 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The firm has a 50 day moving average of $79.62 and a 200 day moving average of $78.60.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. During the same period in the prior year, the business posted $0.89 EPS. Hologic’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

Insider Activity at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hologic

Hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after buying an additional 2,174,093 shares during the last quarter. Black Creek Investment Management Inc. increased its stake in Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares during the last quarter. Mackenzie Financial Corp raised its position in Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares during the period. Marshall Wace LLP purchased a new stake in Hologic during the second quarter valued at approximately $39,427,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Hologic by 21.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after purchasing an additional 450,190 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.