Hologic (NASDAQ:HOLX) Price Target Raised to $82.00

Hologic (NASDAQ:HOLX) had its price objective lifted by research analysts at Evercore ISI from $78.00 to $82.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target points to a potential upside of 1.59% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Hologic in a report on Tuesday, September 17th. Stephens reiterated an “overweight” rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $82.00 target price on shares of Hologic in a research report on Friday, August 16th. Finally, StockNews.com downgraded shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Hologic Trading Down 0.9 %

NASDAQ HOLX traded down $0.74 during trading hours on Tuesday, reaching $80.72. The company’s stock had a trading volume of 296,402 shares, compared to its average volume of 1,592,962. The firm has a fifty day simple moving average of $81.14 and a 200-day simple moving average of $77.33. The stock has a market cap of $18.84 billion, a P/E ratio of 41.17, a P/E/G ratio of 2.58 and a beta of 0.98. Hologic has a 52 week low of $64.02 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. Equities analysts forecast that Hologic will post 4.09 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The disclosure for this sale can be found here. Insiders sold a total of 18,280 shares of company stock worth $1,469,973 in the last quarter. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

A number of hedge funds and other institutional investors have recently made changes to their positions in HOLX. Price T Rowe Associates Inc. MD boosted its holdings in shares of Hologic by 77.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after buying an additional 2,753,016 shares during the last quarter. Swedbank AB purchased a new position in shares of Hologic in the 1st quarter worth about $120,827,000. Black Creek Investment Management Inc. boosted its holdings in shares of Hologic by 60.9% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after buying an additional 885,524 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Hologic by 1,023.3% in the 2nd quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after buying an additional 815,960 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Hologic in the 2nd quarter worth about $39,427,000. 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.