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

Hologic (NASDAQ:HOLX) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $82.00 price objective on shares of Hologic in a research note on Friday, August 16th. Stephens restated an “overweight” rating and set a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a report on Tuesday, September 17th. Finally, Evercore ISI raised their price target on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Hologic Stock Performance

NASDAQ HOLX opened at $80.82 on Friday. The company has a market capitalization of $18.86 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic has a 52-week low of $64.02 and a 52-week high of $84.67. The company has a 50-day simple moving average of $81.08 and a 200 day simple moving average of $77.28.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $0.93 EPS. Hologic’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Hologic will post 4.09 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hologic

A number of institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Hologic during the second quarter valued at about $25,000. iA Global Asset Management Inc. purchased a new stake in Hologic during the 1st quarter valued at about $37,000. Sunbelt Securities Inc. bought a new position in Hologic during the 2nd quarter worth approximately $37,000. Cranbrook Wealth Management LLC purchased a new position in Hologic in the 2nd quarter worth approximately $47,000. Finally, Mather Group LLC. purchased a new position in Hologic in the 1st quarter worth approximately $48,000. Hedge funds and other 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.