Mizuho Boosts Hologic (NASDAQ:HOLX) Price Target to $90.00

Hologic (NASDAQ:HOLX) had its price target raised by equities research analysts at Mizuho from $85.00 to $90.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s target price points to a potential upside of 12.16% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Evercore ISI boosted their target price on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five 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 an average target price of $87.27.

Hologic Stock Performance

NASDAQ:HOLX opened at $80.24 on Friday. 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 firm’s fifty day simple moving average is $81.28 and its 200 day simple moving average is $77.42. The stock has a market cap of $18.73 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. Hologic has a twelve month low of $64.02 and a twelve month high of $84.67.

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

Insider Activity

In related news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction that occurred 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 owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s 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 sale, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,280 shares of company stock valued at $1,469,973 over the last ninety days. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

Institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Hologic during the second quarter valued at approximately $25,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic during the 1st quarter worth $37,000. Sunbelt Securities Inc. bought a new stake in shares of Hologic during the 2nd quarter valued at $37,000. Cranbrook Wealth Management LLC bought a new stake in shares of Hologic during the 2nd quarter valued at $47,000. Finally, Mather Group LLC. purchased a new stake in shares of Hologic in the 1st quarter worth $48,000. Institutional investors own 94.73% of the company’s stock.

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.