Hologic (NASDAQ:HOLX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on HOLX. Leerink Partners cut their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Stephens restated an “overweight” rating and set a $92.00 target price on shares of Hologic in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted 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. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Finally, Evercore ISI raised their target price on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.25.

Hologic Trading Down 0.7 %

Shares of HOLX stock opened at $78.76 on Wednesday. The business has a 50-day moving average price of $80.97 and a two-hundred day moving average price of $78.15. Hologic has a 12-month low of $66.93 and a 12-month high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The firm has a market cap of $18.29 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The business 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%. Hologic’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities analysts anticipate that Hologic will post 4.27 EPS for the current fiscal year.

Institutional Trading of Hologic

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after purchasing an additional 2,753,016 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Hologic by 21.6% during the second 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 buying an additional 450,190 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Hologic by 8.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider’s stock worth $200,952,000 after acquiring an additional 195,285 shares in the last quarter. Black Creek Investment Management Inc. grew its stake in shares of Hologic by 60.9% in 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. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Hologic by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock valued at $172,780,000 after acquiring an additional 124,739 shares in the last quarter. 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.