Hologic (NASDAQ:HOLX) Upgraded to Buy at StockNews.com

Hologic (NASDAQ:HOLX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other research analysts also recently issued reports on HOLX. JPMorgan Chase & Co. increased their price objective on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Evercore ISI raised their price target on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Mizuho cut their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada raised their target price on shares of Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $85.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

Hologic Stock Performance

Shares of HOLX opened at $79.18 on Thursday. The firm has a market cap of $18.39 billion, a P/E ratio of 23.78, a PEG ratio of 2.52 and a beta of 0.98. Hologic has a twelve month low of $67.59 and a twelve month high of $84.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The firm’s 50 day moving average price is $80.84 and its two-hundred day moving average price is $78.22.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The business 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 19.79%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts forecast that Hologic will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Hologic

A number of large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Hologic in the second quarter valued at $25,000. Wolff Wiese Magana LLC acquired a new position in Hologic in the 3rd quarter valued at about $25,000. iA Global Asset Management Inc. bought a new position in Hologic in the 1st quarter valued at about $37,000. Sunbelt Securities Inc. acquired a new stake in Hologic during the second quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. boosted its holdings 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 acquiring an additional 134 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.