Hologic (NASDAQ:HOLX) Upgraded at StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a hold rating to a buy rating in a research report report published on Thursday morning.

Several other equities analysts have also weighed in on HOLX. UBS Group boosted their target price on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Raymond James upped their price objective on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Mizuho reduced their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.91.

Hologic Price Performance

NASDAQ:HOLX opened at $78.60 on Thursday. Hologic has a one year low of $67.59 and a one year high of $84.67. The stock has a market cap of $18.26 billion, a PE ratio of 23.60, a P/E/G ratio of 2.48 and a beta of 0.98. 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 stock has a 50 day moving average price of $80.71 and a 200 day moving average price of $78.25.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same period in the prior year, the business earned $0.89 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts expect that Hologic will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after purchasing an additional 2,753,016 shares in the last quarter. FMR LLC boosted its position in Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after buying an additional 2,174,093 shares during the period. Swedbank AB acquired a new position in shares of Hologic in the first quarter worth $120,827,000. Black Creek Investment Management Inc. increased its position in shares of Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Hologic by 1,023.3% in the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after acquiring an additional 815,960 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.