Royal Bank of Canada Forecasts Strong Price Appreciation for Hologic (NASDAQ:HOLX) Stock

Hologic (NASDAQ:HOLX) had its price objective lifted by stock analysts at Royal Bank of Canada from $86.00 to $89.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.72% from the company’s current price.

HOLX has been the subject of a number of other research reports. Mizuho raised their target price on shares of Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Finally, Leerink Partners decreased their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Five investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Hologic Trading Down 4.8 %

HOLX stock traded down $4.06 during trading on Tuesday, reaching $79.66. The company had a trading volume of 1,070,521 shares, compared to its average volume of 1,580,095. Hologic has a 52 week low of $66.93 and a 52 week high of $84.67. The company has a market cap of $18.50 billion, a P/E ratio of 27.10, a PEG ratio of 2.98 and a beta of 0.98. The business has a 50 day moving average of $81.06 and a 200 day moving average of $78.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same quarter last year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Hologic will post 4.09 earnings per share for the current fiscal year.

Institutional Trading of Hologic

Several hedge funds have recently bought and sold shares of HOLX. Innealta Capital LLC purchased a new stake in Hologic in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC purchased a new position in shares of Hologic in the third quarter worth $25,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic during the first quarter worth $37,000. Sunbelt Securities Inc. purchased a new position in shares of Hologic during the second quarter worth $37,000. Finally, Cromwell Holdings LLC raised its holdings in shares of Hologic by 330.2% during the third quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other 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.