Hologic (NASDAQ:HOLX) Price Target Raised to $94.00 at JPMorgan Chase & Co.

Hologic (NASDAQ:HOLX) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $92.00 to $94.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.79% from the company’s current price.

A number of other equities analysts have also recently commented on HOLX. StockNews.com cut Hologic from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Mizuho boosted their price target on shares of Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Stephens reiterated an “overweight” rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Finally, Leerink Partners lowered their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hologic currently has an average rating of “Moderate Buy” and an average price target of $87.42.

Hologic Trading Down 4.7 %

Hologic stock traded down $3.92 during midday trading on Tuesday, hitting $79.80. 1,096,986 shares of the stock were exchanged, compared to its average volume of 1,579,662. The company has a fifty day simple moving average of $80.99 and a two-hundred day simple moving average of $78.02. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $18.54 billion, a PE ratio of 27.14, a P/E/G ratio of 2.98 and a beta of 0.98. Hologic has a 52 week low of $66.93 and a 52 week high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Hologic will post 4.09 EPS for the current fiscal year.

Institutional Trading of Hologic

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norden Group LLC grew its stake in Hologic by 44.0% in the 1st quarter. Norden Group LLC now owns 5,480 shares of the medical equipment provider’s stock worth $427,000 after buying an additional 1,675 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Hologic in the first quarter worth $63,000. Daiwa Securities Group Inc. boosted its holdings in shares of Hologic by 0.8% during the first quarter. Daiwa Securities Group Inc. now owns 36,160 shares of the medical equipment provider’s stock worth $2,819,000 after purchasing an additional 270 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Hologic by 22.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 40,286 shares of the medical equipment provider’s stock worth $3,141,000 after buying an additional 7,432 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Hologic in the 1st quarter worth $77,000. 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.