Evercore ISI Reiterates “Buy” Rating for Hologic Inc. (HOLX)
Hologic Inc. (NASDAQ:HOLX)‘s stock had its “buy” rating reaffirmed by investment analysts at Evercore ISI in a research report issued to clients and investors on Saturday. They currently have a $43.00 target price on the stock. Evercore ISI’s price objective indicates a potential upside of 11.83% from the company’s previous close.
HOLX has been the topic of a number of other research reports. Barclays PLC reissued a “hold” rating and set a $42.00 price objective on shares of Hologic in a report on Sunday, July 10th. Zacks Investment Research raised shares of Hologic from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, September 28th. Bank of America Corp. reissued a “buy” rating on shares of Hologic in a report on Wednesday, June 22nd. Leerink Swann reissued an “outperform” rating and set a $46.00 price objective on shares of Hologic in a report on Monday, October 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $42.00 price objective on shares of Hologic in a report on Tuesday, June 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $42.76.
Hologic (NASDAQ:HOLX) traded up 0.34% during trading on Friday, hitting $38.45. 1,547,204 shares of the company traded hands. The company’s 50-day moving average is $38.49 and its 200 day moving average is $36.36. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 42.39 and a beta of 1.00. Hologic has a 52-week low of $31.84 and a 52-week high of $41.66.
Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Hologic had a net margin of 9.39% and a return on equity of 26.25%. The company had revenue of $717.40 million for the quarter, compared to analysts’ expectations of $703.66 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Hologic will post $1.94 earnings per share for the current year.
In other news, VP Karleen Marie Oberton sold 31,470 shares of Hologic stock in a transaction on Monday, October 10th. The stock was sold at an average price of $40.00, for a total transaction of $1,258,800.00. Following the completion of the transaction, the vice president now owns 17,005 shares of the company’s stock, valued at approximately $680,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elaine Ullian sold 18,236 shares of Hologic stock in a transaction on Monday, October 10th. The stock was sold at an average price of $39.88, for a total value of $727,251.68. Following the transaction, the director now directly owns 42,898 shares of the company’s stock, valued at approximately $1,710,772.24. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Hologic by 8.1% in the second quarter. Vanguard Group Inc. now owns 26,537,173 shares of the company’s stock valued at $918,185,000 after buying an additional 1,992,898 shares during the period. State Street Corp increased its position in shares of Hologic by 2.8% in the second quarter. State Street Corp now owns 10,579,925 shares of the company’s stock valued at $366,073,000 after buying an additional 284,089 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Hologic by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,195,938 shares of the company’s stock valued at $248,979,000 after buying an additional 441,354 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Hologic by 37.5% in the second quarter. Prudential Financial Inc. now owns 3,613,781 shares of the company’s stock valued at $125,036,000 after buying an additional 986,320 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Hologic by 56.1% in the second quarter. AQR Capital Management LLC now owns 2,983,023 shares of the company’s stock valued at $103,212,000 after buying an additional 1,072,100 shares during the last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.
Hologic Company Profile
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. Its Diagnostics products include its Aptima family of assays, which run on its advanced instrumentation systems (Panther and Tigris); ThinPrep system; the Rapid Fetal Fibronectin Test, and Procleix blood screening assays.
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