Hologic (NASDAQ:HOLX) Now Covered by Analysts at Stephens

Stephens began coverage on shares of Hologic (NASDAQ:HOLX) in a report issued on Thursday, MarketBeat reports. The firm issued an overweight rating and a $87.00 price target on the medical equipment provider’s stock.

Several other brokerages have also commented on HOLX. Needham & Company LLC restated a buy rating and set a $90.00 price target on shares of Hologic in a research note on Friday, May 3rd. Argus increased their target price on shares of Hologic from $89.00 to $95.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Citigroup raised shares of Hologic from a neutral rating to a buy rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Finally, Evercore ISI lifted their target price on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $85.73.

Hologic Price Performance

HOLX opened at $74.25 on Thursday. Hologic has a 1 year low of $64.02 and a 1 year high of $82.45. The company’s 50 day simple moving average is $74.32 and its 200 day simple moving average is $74.30. The stock has a market capitalization of $17.33 billion, a PE ratio of 37.88, a P/E/G ratio of 2.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $1.06 earnings per share. Hologic’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Hologic will post 4.08 EPS for the current year.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. purchased a new position in Hologic in the fourth quarter valued at about $27,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic during the 1st quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Hologic by 69.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 227 shares during the last quarter. Allworth Financial LP raised its holdings in Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 179 shares in the last quarter. Finally, Mather Group LLC. bought a new position in Hologic during the 1st quarter valued at $48,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.