Hologic (NASDAQ:HOLX) Cut to “Neutral” at Citigroup

Citigroup lowered shares of Hologic (NASDAQ:HOLX) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $85.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $95.00.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a buy rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday, September 17th. StockNews.com downgraded shares of Hologic from a strong-buy rating to a buy rating in a research report on Friday, September 27th. Royal Bank of Canada restated a sector perform rating and issued a $82.00 target price on shares of Hologic in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Finally, Stephens restated an overweight rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Hologic presently has a consensus rating of Moderate Buy and a consensus target price of $87.00.

Hologic Stock Down 0.7 %

Shares of Hologic stock opened at $79.22 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. Hologic has a 52-week low of $64.02 and a 52-week high of $84.67. The company has a market capitalization of $18.49 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.58 and a beta of 0.98. The company has a 50 day moving average of $81.22 and a 200 day moving average of $77.38.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data 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. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. As a group, research analysts forecast that Hologic will post 4.09 EPS for the current fiscal year.

Insider Activity

In related news, Director Christiana Stamoulis sold 9,039 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of Hologic 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 completion of the transaction, the director now owns 45,472 shares in the company, valued at $3,615,024. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,280 shares of company stock valued at $1,469,973. Insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $490,931,000 after purchasing an additional 2,753,016 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 valued at $188,243,000 after buying an additional 450,190 shares during the period. Black Creek Investment Management Inc. boosted its stake in shares of 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 valued at $173,669,000 after buying an additional 885,524 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hologic by 5.7% in 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 in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in 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 acquiring an additional 87,176 shares in the last quarter. Institutional investors and hedge funds 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.