Hologic (NASDAQ:HOLX) Rating Reiterated by Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $90.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 10.13% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Hologic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 10th. Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Evercore ISI increased their price target on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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 $81.72 on Tuesday. The firm has a market cap of $19.07 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company’s fifty day simple moving average is $80.51 and its two-hundred day simple moving average is $76.98. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. Hologic has a 12-month low of $64.02 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. Hologic’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. As a group, equities analysts expect that Hologic will post 4.09 EPS for the current year.

Insider Buying and Selling at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the sale, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Christiana Stamoulis sold 9,039 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,280 shares of company stock valued at $1,469,973. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several institutional investors and hedge funds have recently made changes to their positions in HOLX. Innealta Capital LLC purchased a new stake in Hologic during the 2nd quarter valued at $25,000. iA Global Asset Management Inc. purchased a new stake in shares of Hologic during the first quarter valued at $37,000. Sunbelt Securities Inc. bought a new stake in Hologic in the 2nd quarter worth about $37,000. Cranbrook Wealth Management LLC purchased a new position in Hologic in the 2nd quarter worth about $47,000. Finally, Mather Group LLC. bought a new position in Hologic during the 1st quarter valued at about $48,000. Institutional investors 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.