Hologic (NASDAQ:HOLX) Stock Rating Lowered by StockNews.com

Hologic (NASDAQ:HOLX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages have also issued reports on HOLX. Evercore ISI increased their price target on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, September 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Stephens reiterated an “overweight” rating and set a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Hologic Stock Performance

Hologic stock opened at $80.82 on Friday. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The stock’s 50 day simple moving average is $81.08 and its two-hundred day simple moving average is $77.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The stock has a market cap of $18.86 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 2.58 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released 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. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. As a group, analysts expect that Hologic will post 4.09 earnings per share for the current fiscal year.

Insider Activity at Hologic

In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the company’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 transaction of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares in the company, valued at $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock valued at $1,469,973 over the last ninety days. Insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several hedge funds and other institutional investors have recently modified their holdings of HOLX. Anchor Investment Management LLC grew its holdings in Hologic by 6.7% during the second quarter. Anchor Investment Management LLC now owns 7,930 shares of the medical equipment provider’s stock valued at $589,000 after purchasing an additional 500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Hologic during the 2nd quarter valued at about $100,000. Sanctuary Advisors LLC bought a new position in shares of Hologic during the 2nd quarter valued at approximately $1,212,000. Quarry LP increased its holdings in Hologic by 323.7% in the 2nd quarter. Quarry LP now owns 1,809 shares of the medical equipment provider’s stock worth $134,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in Hologic in the 2nd quarter worth approximately $37,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.