JPMorgan Chase & Co. Raises Hologic (NASDAQ:HOLX) Price Target to $94.00

Hologic (NASDAQ:HOLX) had its price target lifted by JPMorgan Chase & Co. from $92.00 to $94.00 in a research note published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

HOLX has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, October 15th. StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Leerink Partners dropped their price target on Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a research report on Friday, August 16th. Finally, Citigroup cut Hologic from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.25.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $78.80 on Tuesday. The stock’s 50-day simple moving average is $81.06 and its two-hundred day simple moving average is $78.08. Hologic has a twelve month low of $66.93 and a twelve month high of $84.67. The firm has a market capitalization of $18.30 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.98 and a beta of 0.98. 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 (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 17.59% and a return on equity of 19.53%. Hologic’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, equities analysts anticipate that Hologic will post 4.09 EPS for the current fiscal year.

Institutional Trading of Hologic

Institutional investors have recently made changes to their positions in the stock. Norden Group LLC boosted its position in Hologic by 44.0% during the 1st quarter. Norden Group LLC now owns 5,480 shares of the medical equipment provider’s stock valued at $427,000 after buying an additional 1,675 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Hologic in the first quarter worth about $63,000. Daiwa Securities Group Inc. increased its holdings in Hologic by 0.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 36,160 shares of the medical equipment provider’s stock valued at $2,819,000 after purchasing an additional 270 shares during the period. Mutual of America Capital Management LLC raised its position in Hologic by 22.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 40,286 shares of the medical equipment provider’s stock valued at $3,141,000 after purchasing an additional 7,432 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Hologic in the 1st quarter worth approximately $77,000. Hedge funds and other 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.