Hologic (NASDAQ:HOLX) Downgraded by Needham & Company LLC to Hold

Needham & Company LLC cut shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has $90.00 target price on the medical equipment provider’s stock.

Several other analysts have also weighed in on the stock. UBS Group raised their price objective on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on Hologic in a report on Tuesday, December 10th. They set a “hold” rating and a $85.00 price target for the company. Morgan Stanley reduced their price objective on Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Raymond James raised their target price on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.92.

Hologic Trading Down 0.6 %

Shares of HOLX opened at $71.72 on Monday. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $16.19 billion, a PE ratio of 21.54, a PEG ratio of 2.35 and a beta of 0.98. Hologic has a 1 year low of $68.61 and a 1 year high of $84.67. The stock has a 50 day simple moving average of $73.19 and a 200-day simple moving average of $78.03.

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

Insiders Place Their Bets

In related news, COO Essex D. Mitchell sold 24,856 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Prentiss Smith & Co. Inc. raised its holdings in shares of Hologic by 0.3% during the third quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock worth $3,967,000 after acquiring an additional 130 shares during the period. Covestor Ltd raised its stake in shares of Hologic by 23.8% in the 3rd quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 133 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 134 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Hologic by 14.7% during the fourth quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock worth $82,000 after buying an additional 145 shares during the period. Finally, Empirical Finance LLC grew its holdings in shares of Hologic by 1.8% during the third quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock worth $690,000 after buying an additional 147 shares in the last quarter. 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.