Hologic, Inc. (NASDAQ:HOLX) Receives $87.27 Average Price Target from Brokerages

Shares of Hologic, Inc. (NASDAQ:HOLX) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $87.50.

Several analysts have recently weighed in on the stock. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Hologic in a research note on Tuesday, September 17th. Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $82.00 price target on shares of Hologic in a research report on Friday, August 16th.

Insider Activity at Hologic

In other Hologic news, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares of the company’s stock, valued at $310,415.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brandon Schnittker sold 476 shares of the stock in a transaction dated 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 sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,280 shares of company stock worth $1,469,973. 1.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Hologic during the second quarter worth about $25,000. iA Global Asset Management Inc. purchased a new stake in Hologic during the 1st quarter worth approximately $37,000. Sunbelt Securities Inc. acquired a new position in shares of Hologic in the 2nd quarter valued at approximately $37,000. Cranbrook Wealth Management LLC purchased a new position in shares of Hologic during the 2nd quarter valued at approximately $47,000. Finally, Mather Group LLC. acquired a new position in Hologic during the 1st quarter worth $48,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Stock Performance

HOLX opened at $79.81 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $18.63 billion, a PE ratio of 40.72, a PEG ratio of 2.89 and a beta of 0.98. The firm’s 50-day moving average price is $81.06 and its 200 day moving average price is $77.58. Hologic has a twelve month low of $64.02 and a twelve month high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share 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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Hologic will post 4.09 EPS for the current fiscal year.

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.