Hologic (NASDAQ:HOLX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a buy rating to a strong-buy rating in a report issued on Friday.

Several other equities analysts have also issued reports on HOLX. Evercore ISI boosted 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 Tuesday, July 30th. Argus upped their target price on Hologic from $89.00 to $95.00 and gave the company a buy rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their price target on Hologic from $81.00 to $82.00 and gave the company a sector perform rating in a research note on Tuesday, July 30th. Finally, Stephens reaffirmed an overweight rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic presently has a consensus rating of Moderate Buy and a consensus price target of $87.60.

Hologic Stock Performance

Shares of Hologic stock opened at $82.36 on Friday. The company’s 50 day moving average price is $75.51 and its two-hundred day moving average price is $75.42. The firm has a market capitalization of $19.13 billion, a P/E ratio of 42.02, a P/E/G ratio of 2.64 and a beta of 0.99. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.29.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. On average, equities analysts forecast that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other Hologic news, insider Stephen P. Macmillan 44,039 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Stephen P. Macmillan 44,039 shares of Hologic stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. The disclosure for this sale can be found here. In the last three months, insiders sold 17,804 shares of company stock worth $1,430,413. 1.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Hologic

Several large investors have recently added to or reduced their stakes in HOLX. Ballentine Partners LLC bought a new stake in shares of Hologic in the 4th quarter worth approximately $262,000. Arizona State Retirement System raised its position in shares of Hologic by 0.3% in the 4th quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after purchasing an additional 172 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Hologic by 2.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 99,725 shares of the medical equipment provider’s stock worth $7,106,000 after purchasing an additional 1,937 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Hologic during the 4th quarter valued at about $950,000. Finally, 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 worth $45,000 after buying an additional 179 shares during the last quarter. Institutional investors 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.