Hologic (NASDAQ:HOLX) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.

Other research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Stephens reaffirmed an overweight rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Royal Bank of Canada reissued a sector perform rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Evercore ISI boosted their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Hologic presently has an average rating of Moderate Buy and an average price target of $87.60.

Hologic Price Performance

NASDAQ HOLX opened at $81.96 on Tuesday. Hologic has a 1 year low of $64.02 and a 1 year high of $84.67. The company has a fifty day simple moving average of $79.79 and a 200 day simple moving average of $76.74. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The company has a market cap of $19.04 billion, a P/E ratio of 41.82, a P/E/G ratio of 2.58 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 earnings per share. On average, sell-side analysts predict that Hologic will post 4.09 EPS for the current year.

Insider Buying and Selling at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the sale, the insider now owns 10,476 shares of the company’s stock, valued at $858,927.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,280 shares of company stock valued at $1,469,973. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

Several institutional investors have recently bought and sold shares of HOLX. Price T Rowe Associates Inc. MD increased its stake in shares of Hologic by 77.7% in 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 buying an additional 2,753,016 shares in the last quarter. Norges Bank acquired a new stake in Hologic in the 4th quarter valued at about $217,529,000. The Manufacturers Life Insurance Company raised its stake in shares of Hologic by 21.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after acquiring an additional 450,190 shares during the last quarter. Black Creek Investment Management Inc. lifted 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, Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 124,739 shares during 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.