StockNews.com Upgrades Hologic (NASDAQ:HOLX) to “Buy”

Hologic (NASDAQ:HOLX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

HOLX has been the topic of several other reports. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. UBS Group boosted their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Raymond James raised their target price on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Hologic in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Hologic currently has an average rating of “Moderate Buy” and an average price target of $84.56.

Hologic Stock Performance

NASDAQ HOLX opened at $76.54 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. The company has a market cap 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. The stock has a 50-day moving average of $76.13 and a two-hundred day moving average of $73.05. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, analysts anticipate that Hologic will post 4.08 EPS for the current year.

Insider Activity

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

Institutional Trading of Hologic

Large investors have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Hologic in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new stake in Hologic during the 3rd quarter valued at approximately $29,000. NBC Securities Inc. acquired a new stake in Hologic during the 3rd quarter worth approximately $33,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Hologic by 42.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 155 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Hologic by 69.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds 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.