Hologic (NASDAQ:HOLX) Receives “Overweight” Rating from Stephens

Stephens reissued their overweight rating on shares of Hologic (NASDAQ:HOLX) in a report released on Thursday morning,Benzinga reports. Stephens currently has a $84.00 target price on the medical equipment provider’s stock.

HOLX has been the subject of a number of other research reports. Wolfe Research initiated coverage on Hologic in a research report on Friday, December 13th. They issued a “peer perform” rating for the company. UBS Group raised their price objective on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Mizuho dropped their price target on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC downgraded Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Monday. Finally, Morgan Stanley reduced their price objective on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.77.

Hologic Stock Performance

NASDAQ HOLX opened at $65.45 on Thursday. The company’s 50 day moving average is $72.63 and its 200-day moving average is $77.86. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.77 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Hologic has a 12-month low of $64.87 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. Sell-side analysts predict that Hologic will post 4.28 earnings per share for the current year.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

A number of hedge funds have recently added to or reduced their stakes in HOLX. Wolff Wiese Magana LLC purchased a new position in shares of Hologic in the 3rd quarter worth about $25,000. General Partner Inc. acquired a new stake in shares of Hologic during the fourth quarter valued at about $26,000. Groupama Asset Managment increased its holdings in Hologic by 9.9% during the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 2,999 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Hologic by 156.3% in the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 261 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. 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.