Hologic (NASDAQ:HOLX) Price Target Cut to $82.00 by Analysts at Morgan Stanley

Hologic (NASDAQ:HOLX) had its price objective cut by Morgan Stanley from $84.00 to $82.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

Several other brokerages also recently commented on HOLX. Evercore ISI lifted 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. Raymond James raised their price objective on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Mizuho dropped their price objective 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. Jefferies Financial Group initiated coverage on shares of Hologic in a research note on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, StockNews.com upgraded shares of Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.92.

Hologic Stock Performance

HOLX opened at $70.29 on Monday. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.32 and a beta of 0.97. The business’s 50-day moving average price is $75.61 and its two-hundred day moving average price is $78.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. Hologic has a 1 year low of $69.46 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same quarter in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Hologic will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares in the company, valued at approximately $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Hologic

Several large investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of Hologic by 0.8% in the third quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock valued at $847,944,000 after acquiring an additional 81,057 shares during the period. FMR LLC lifted its holdings in Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after buying an additional 2,174,093 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Hologic by 0.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock worth $208,051,000 after purchasing an additional 18,774 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Hologic by 8.6% during the 3rd 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 during the period. Finally, Black Creek Investment Management Inc. boosted its stake in 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 acquiring an additional 885,524 shares in the last quarter. Hedge funds and other 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.