Hologic (NASDAQ:HOLX) Downgraded by StockNews.com

StockNews.com lowered shares of Hologic (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a report published on Saturday morning.

A number of other analysts have also commented on HOLX. Royal Bank of Canada increased their price objective on Hologic from $81.00 to $82.00 and gave the company a sector perform rating in a research note on Tuesday, July 30th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Stephens reaffirmed an overweight rating and set a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Evercore ISI increased their price objective on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on Hologic from $91.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $87.60.

Hologic Trading Down 2.2 %

Shares of HOLX stock opened at $81.77 on Friday. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The stock has a market cap of $19.08 billion, a P/E ratio of 41.72, a P/E/G ratio of 2.64 and a beta of 0.99. The business has a fifty day simple moving average of $76.44 and a 200-day simple moving average of $75.72. The company has a quick ratio of 3.29, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

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

Insiders Place Their Bets

In other Hologic news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the sale, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the transaction, the insider now directly owns 10,476 shares in the company, valued at approximately $858,927.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares in the company, valued at $310,415.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,280 shares of company stock valued at $1,469,973. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

A number of large investors have recently modified their holdings of HOLX. International Assets Investment Management LLC purchased a new position in shares of Hologic in the 4th quarter worth about $950,000. Allworth Financial LP raised its holdings in shares of Hologic by 39.3% during the 4th quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 179 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Hologic by 8.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 47,486 shares of the medical equipment provider’s stock valued at $3,393,000 after buying an additional 3,889 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Hologic by 6.4% during the 4th quarter. Bleakley Financial Group LLC now owns 4,576 shares of the medical equipment provider’s stock valued at $327,000 after buying an additional 274 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Hologic by 22.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,598 shares of the medical equipment provider’s stock valued at $471,000 after buying an additional 1,191 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.