StockNews.com Downgrades Hologic (NASDAQ:HOLX) to Buy

StockNews.com cut shares of Hologic (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

A number of other analysts also recently issued reports on the stock. Argus boosted their price objective on shares of Hologic from $89.00 to $95.00 and gave the company a buy rating in a report on Thursday, May 9th. Stephens restated an overweight rating and issued a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a buy rating and issued a $90.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Finally, 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 research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Hologic has a consensus rating of Moderate Buy and a consensus target price of $87.60.

Hologic Stock Performance

NASDAQ HOLX opened at $81.77 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization 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. Hologic has a 12-month low of $64.02 and a 12-month high of $84.67. The firm has a 50-day moving average price of $76.44 and a two-hundred day moving average price of $75.72.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Analysts anticipate that Hologic will post 4.08 earnings per share for the current year.

Insider Buying and Selling at Hologic

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at $3,615,024. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following 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 ninety days, insiders sold 18,280 shares of company stock worth $1,469,973. 1.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Hologic in the second quarter valued at $25,000. iA Global Asset Management Inc. bought a new position in shares of Hologic in the first quarter valued at $37,000. Allworth Financial LP lifted its stake in shares of Hologic by 39.3% in the fourth 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 in the last quarter. Cranbrook Wealth Management LLC bought a new position in shares of Hologic in the second quarter valued at $47,000. Finally, Mather Group LLC. bought a new position in shares of Hologic in the first quarter valued at $48,000. 94.73% of the stock is owned by 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.