Hologic (NASDAQ:HOLX) Price Target Raised to $89.00

Hologic (NASDAQ:HOLX) had its target price increased by Royal Bank of Canada from $86.00 to $89.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the medical equipment provider’s stock.

HOLX has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. Stephens reiterated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Finally, Leerink Partners reduced their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Hologic has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Hologic Stock Down 1.5 %

HOLX stock opened at $79.29 on Tuesday. Hologic has a one year low of $66.93 and a one year high of $84.67. The stock has a market capitalization of $18.42 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 3.03 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. The company has a fifty day moving average of $81.02 and a 200-day moving average of $78.13.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 20.11%. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter last year, the business earned $0.89 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that Hologic will post 4.36 EPS for the current year.

Institutional Investors Weigh In On Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of HOLX. Norden Group LLC grew its holdings in shares of Hologic by 44.0% during the first quarter. Norden Group LLC now owns 5,480 shares of the medical equipment provider’s stock worth $427,000 after buying an additional 1,675 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Hologic during the first quarter worth about $63,000. Daiwa Securities Group Inc. boosted its position in shares of Hologic by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 36,160 shares of the medical equipment provider’s stock worth $2,819,000 after acquiring an additional 270 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Hologic by 22.6% in the first quarter. Mutual of America Capital Management LLC now owns 40,286 shares of the medical equipment provider’s stock worth $3,141,000 after acquiring an additional 7,432 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Hologic in the first quarter worth approximately $77,000. 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.