Hologic’s (HOLX) Buy Rating Reiterated at Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They currently have a $90.00 price target on the medical equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 9.84% from the stock’s previous close.

A number of other research firms also recently issued reports on HOLX. StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Stephens restated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Mizuho raised their price target on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Evercore ISI raised their price target on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Finally, Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Hologic Stock Up 0.3 %

Hologic stock opened at $81.94 on Tuesday. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.98. The stock has a fifty day simple moving average of $81.04 and a two-hundred day simple moving average of $77.67. Hologic has a 12 month low of $64.02 and a 12 month high of $84.67. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping 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 return on equity of 19.53% and a net margin of 17.59%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Equities analysts predict that Hologic will post 4.09 EPS for the current fiscal year.

Insider Activity

In other news, 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 value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 10,476 shares in the company, valued at $858,927.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several large investors have recently made changes to their positions in the company. Bleakley Financial Group LLC increased its holdings in shares of Hologic by 23.9% in the third quarter. Bleakley Financial Group LLC now owns 6,368 shares of the medical equipment provider’s stock worth $519,000 after purchasing an additional 1,227 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Hologic in the third quarter worth about $25,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Hologic by 14.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,221 shares of the medical equipment provider’s stock worth $2,869,000 after purchasing an additional 4,411 shares during the last quarter. Kapitalo Investimentos Ltda increased its stake in Hologic by 46.3% during the third quarter. Kapitalo Investimentos Ltda now owns 4,553 shares of the medical equipment provider’s stock worth $371,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Swedbank AB increased its stake in Hologic by 18.8% during the third quarter. Swedbank AB now owns 1,937,002 shares of the medical equipment provider’s stock worth $157,788,000 after acquiring an additional 306,562 shares during the last quarter. 94.73% of the stock is owned by 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.