Hologic (NASDAQ:HOLX) PT Raised to $91.00 at JPMorgan Chase & Co.

Hologic (NASDAQ:HOLX) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $85.00 to $91.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.89% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS Group upped their target price on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Raymond James lifted their target price on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Hologic in a research note on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Hologic Stock Performance

NASDAQ HOLX traded up $0.63 during mid-day trading on Friday, reaching $76.54. 2,069,424 shares of the stock were exchanged, compared to its average volume of 1,449,410. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89. The business’s 50 day moving average is $76.13 and its 200-day moving average is $73.05. The company has a market capitalization of $17.97 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.59 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. On average, equities research analysts forecast that Hologic will post 4.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the transaction, the director now directly owns 48,611 shares in the company, valued at approximately $3,670,130.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares in the company, valued at approximately $119,802.12. The disclosure for this sale can be found here. 1.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hologic

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Hologic in the 4th quarter valued at approximately $217,529,000. The Manufacturers Life Insurance Company grew its stake in shares of Hologic by 117.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock valued at $154,598,000 after buying an additional 1,168,564 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Hologic by 117.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,378,258 shares of the medical equipment provider’s stock valued at $95,651,000 after buying an additional 743,557 shares during the period. Jennison Associates LLC acquired a new position in Hologic during the 4th quarter worth about $30,079,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Hologic by 90.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 845,493 shares of the medical equipment provider’s stock valued at $58,677,000 after acquiring an additional 401,486 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.