Hologic (NASDAQ:HOLX) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm issued a peer perform rating on the medical equipment provider’s stock.

Several other equities analysts have also recently commented on the stock. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Jefferies Financial Group initiated coverage on shares of Hologic in a research report on Tuesday, December 10th. They set a “hold” rating and a $85.00 price objective for the company. Evercore ISI raised their target price on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Mizuho decreased their price target on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, BNP Paribas upgraded Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Hologic Trading Down 1.9 %

Shares of NASDAQ:HOLX opened at $73.65 on Friday. The business’s 50 day simple moving average is $79.32 and its 200 day simple moving average is $78.64. Hologic has a 1 year low of $70.24 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The company has a market capitalization of $16.71 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Hologic will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Hologic

A number of hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Hologic during the second quarter worth $25,000. Wolff Wiese Magana LLC purchased a new position in Hologic during the third quarter worth about $25,000. Groupama Asset Managment increased its stake in Hologic by 9.9% in the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 2,999 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Hologic in the second quarter valued at approximately $37,000. Finally, First Horizon Advisors Inc. increased 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 valued at $39,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds 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.