Hologic (NASDAQ:HOLX) Cut to “Hold” at Argus

Hologic (NASDAQ:HOLX) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a report issued on Monday, MarketBeat.com reports.

Several other analysts have also recently commented on the stock. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC lowered shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Monday, February 3rd. Finally, Leerink Partners lowered shares of Hologic from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $80.00 to $75.00 in a research report on Thursday, February 6th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.62.

Hologic Stock Performance

HOLX stock opened at $62.30 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The stock has a market cap of $13.98 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.14 and a beta of 0.97. The firm has a 50 day simple moving average of $68.77 and a 200 day simple moving average of $75.64. Hologic has a 52 week low of $62.28 and a 52 week high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly 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 18.42% and a return on equity of 19.72%. Research analysts anticipate that Hologic will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hologic

A number of institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hologic in the fourth quarter valued at approximately $28,269,000. Jefferies Financial Group Inc. increased its position in Hologic by 141.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 96,849 shares of the medical equipment provider’s stock worth $6,982,000 after acquiring an additional 56,742 shares during the period. Forum Financial Management LP bought a new position in Hologic during the fourth quarter worth $324,000. Toronto Dominion Bank increased its position in Hologic by 7.9% during the fourth quarter. Toronto Dominion Bank now owns 124,308 shares of the medical equipment provider’s stock worth $8,961,000 after acquiring an additional 9,076 shares during the period. Finally, North Star Asset Management Inc. increased its position in Hologic by 0.3% during the fourth quarter. North Star Asset Management Inc. now owns 252,857 shares of the medical equipment provider’s stock worth $18,228,000 after acquiring an additional 687 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.