Hologic (NASDAQ:HOLX) Upgraded at StockNews.com

Hologic (NASDAQ:HOLX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued reports about the stock. Mizuho cut their price target on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and decreased their price target for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Leerink Partners decreased their price objective on Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.91.

Hologic Stock Down 0.7 %

HOLX opened at $79.18 on Thursday. The company has a market capitalization of $18.39 billion, a P/E ratio of 23.78, a P/E/G ratio of 2.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The firm’s fifty day moving average price is $80.84 and its two-hundred day moving average price is $78.22. Hologic has a fifty-two week low of $67.59 and a fifty-two week high of $84.67.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, analysts anticipate that Hologic will post 4.27 EPS for the current year.

Hedge Funds Weigh In On Hologic

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake 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 valued at $490,931,000 after acquiring an additional 2,753,016 shares during the last quarter. FMR LLC increased its stake in Hologic by 64.0% in the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares in the last quarter. Swedbank AB acquired a new stake in Hologic in the first quarter worth $120,827,000. Black Creek Investment Management Inc. boosted its position in shares of 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 purchasing an additional 885,524 shares in the last quarter. Finally, Mackenzie Financial Corp grew 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 valued at $66,506,000 after buying an additional 815,960 shares during the period. Institutional investors and hedge funds 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.