Hologic (NASDAQ:HOLX) Lowered to “Market Perform” Rating by Leerink Partners

Hologic (NASDAQ:HOLX) was downgraded by investment analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a report issued on Thursday, Marketbeat reports. They currently have a $75.00 target price on the medical equipment provider’s stock, down from their previous target price of $80.00. Leerink Partners’ price target would suggest a potential upside of 3.02% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC lowered Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Monday. William Blair reiterated an “outperform” rating on shares of Hologic in a research note on Monday, January 13th. Mizuho lowered their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Raymond James raised their price objective on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.77.

Hologic Stock Performance

HOLX opened at $72.80 on Thursday. Hologic has a 12-month low of $68.61 and a 12-month high of $84.67. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.35 and a beta of 0.98. The business has a 50 day moving average of $72.91 and a 200-day moving average of $77.95. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. On average, equities research analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC acquired a new position in Hologic during the 3rd quarter worth about $25,000. General Partner Inc. acquired a new position in Hologic during the 4th quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in Hologic by 156.3% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the period. First Horizon Advisors Inc. lifted its holdings in Hologic by 38.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 shares during the period. Finally, Cromwell Holdings LLC lifted its holdings in Hologic by 330.2% during the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 416 shares during the period. 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.