Hologic (NASDAQ:HOLX) Price Target Raised to $94.00 at JPMorgan Chase & Co.

Hologic (NASDAQ:HOLX) had its target price upped by JPMorgan Chase & Co. from $92.00 to $94.00 in a research report released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Leerink Partners lowered their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Evercore ISI lifted their target price on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Stephens reaffirmed an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. StockNews.com cut Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Finally, Mizuho lifted their target price on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.25.

Hologic Trading Down 5.9 %

HOLX opened at $78.80 on Tuesday. The firm has a market capitalization of $18.30 billion, a PE ratio of 26.80, a P/E/G ratio of 2.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic has a fifty-two week low of $66.93 and a fifty-two week high of $84.67. The company’s 50-day moving average is $81.06 and its 200 day moving average is $78.08.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. As a group, research analysts predict that Hologic will post 4.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HOLX. Price T Rowe Associates Inc. MD boosted its holdings in shares of Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after acquiring an additional 2,753,016 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Hologic by 21.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after purchasing an additional 450,190 shares during the period. Black Creek Investment Management Inc. grew its holdings in Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after buying an additional 885,524 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hologic by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock valued at $172,780,000 after buying an additional 124,739 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Hologic by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider’s stock worth $168,666,000 after buying an additional 87,176 shares in the last quarter. 94.73% of the stock is currently 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.