Hologic (NASDAQ:HOLX) Price Target Raised to $89.00

Hologic (NASDAQ:HOLX) had its price objective boosted by Royal Bank of Canada from $86.00 to $89.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Stephens reissued an “overweight” rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com cut shares of 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 shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $85.00 in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Hologic currently has an average rating of “Moderate Buy” and an average target price of $89.25.

Hologic Trading Down 1.5 %

Shares of HOLX stock opened at $79.29 on Tuesday. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 3.03 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 has a fifty-two week low of $66.93 and a fifty-two week high of $84.67. The firm’s 50 day moving average price is $81.02 and its two-hundred day moving average price is $78.13.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 20.11%. Hologic’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. On average, analysts anticipate that Hologic will post 4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOLX. Norden Group LLC grew its holdings in shares of Hologic by 44.0% during the 1st quarter. Norden Group LLC now owns 5,480 shares of the medical equipment provider’s stock worth $427,000 after purchasing an additional 1,675 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Hologic in the first quarter valued at about $63,000. Daiwa Securities Group Inc. boosted its stake in Hologic by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 36,160 shares of the medical equipment provider’s stock valued at $2,819,000 after buying an additional 270 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Hologic by 22.6% in the first 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 buying an additional 7,432 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Hologic in the first quarter valued at about $77,000. 94.73% of the stock is owned by institutional investors and hedge funds.

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.