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

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a buy rating to a strong-buy rating in a research report released on Tuesday.

A number of other research analysts also recently issued reports on the stock. 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. JPMorgan Chase & Co. increased their price objective on shares of Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a sector perform rating and set a $82.00 price target on shares of Hologic in a research note on Friday, August 16th. Finally, Stephens reissued an overweight rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $87.60.

Hologic Price Performance

HOLX stock opened at $80.42 on Tuesday. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $80.06 and its 200 day simple moving average is $76.78. Hologic has a 12-month low of $64.02 and a 12-month high of $84.67. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 2.58 and a beta of 0.98.

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

Insider Buying and Selling

In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,735 shares of the company’s stock, valued at $310,415.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at $92,755,443.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,280 shares of company stock worth $1,469,973. 1.75% of the stock is owned by insiders.

Institutional Trading of Hologic

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Hologic by 77.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after acquiring an additional 2,753,016 shares during the period. Norges Bank bought a new position in Hologic during the fourth quarter valued at $217,529,000. The Manufacturers Life Insurance Company grew its holdings in Hologic by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after purchasing an additional 450,190 shares during the period. Black Creek Investment Management Inc. increased its position in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after buying an additional 885,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hologic by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock valued at $172,780,000 after acquiring an additional 124,739 shares during the period. 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.