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

Needham & Company LLC reissued their buy rating on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the medical equipment provider’s stock.

HOLX has been the subject of a number of other research reports. Mizuho decreased their price target on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of Hologic in a research note on Tuesday, December 10th. They set a “hold” rating and a $85.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Raymond James increased their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised their target price on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. 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 company. Based on data from MarketBeat.com, Hologic currently has a consensus rating of “Moderate Buy” and an average price target of $88.92.

Hologic Trading Down 2.0 %

NASDAQ HOLX opened at $70.29 on Monday. 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 $75.61 and its 200 day moving average price is $78.53. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. Hologic has a 12 month low of $69.46 and a 12 month high of $84.67.

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

Insider Activity

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several hedge funds have recently added to or reduced their stakes in HOLX. Choreo LLC purchased a new position in Hologic during the 2nd quarter valued at about $393,000. Oppenheimer & Co. Inc. increased its holdings in Hologic by 2.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,275 shares of the medical equipment provider’s stock valued at $1,505,000 after acquiring an additional 500 shares in the last quarter. Federated Hermes Inc. purchased a new position in Hologic during the 2nd quarter valued at about $246,000. Oppenheimer Asset Management Inc. increased its holdings in Hologic by 11.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,423 shares of the medical equipment provider’s stock valued at $2,853,000 after acquiring an additional 3,876 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Hologic by 3.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 361,271 shares of the medical equipment provider’s stock valued at $26,824,000 after acquiring an additional 12,671 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.