Hologic, Inc. (NASDAQ:HOLX) Receives $89.50 Consensus Target Price from Brokerages

Shares of Hologic, Inc. (NASDAQ:HOLX) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $89.50.

HOLX has been the topic of several research analyst reports. Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price target on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of Hologic in a report on Tuesday, December 10th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Evercore ISI increased their target price on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st.

Hologic Stock Up 0.2 %

Shares of NASDAQ:HOLX opened at $72.68 on Friday. The company has a market capitalization of $16.49 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Hologic has a 1 year low of $70.36 and a 1 year high of $84.67. 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 business has a fifty day moving average price of $78.13 and a two-hundred day moving average price of $78.53.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million during 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 firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. Analysts forecast that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was 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 $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

A number of large investors have recently modified their holdings of the business. State Street Corp raised its stake in 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 purchasing an additional 81,057 shares in the last quarter. FMR LLC increased its holdings in shares of 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 last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hologic by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock valued at $208,051,000 after buying an additional 18,774 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted 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 last quarter. Finally, Black Creek Investment Management Inc. grew its position in Hologic by 60.9% in 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. Institutional investors 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.