Citigroup Cuts Hologic (NASDAQ:HOLX) Price Target to $70.00

Hologic (NASDAQ:HOLX) had its target price trimmed by Citigroup from $80.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the medical equipment provider’s stock.

HOLX has been the topic of a number of other reports. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Monday, February 3rd. BNP Paribas raised shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lowered their price objective on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. UBS Group lifted 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. Finally, StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hologic has a consensus rating of “Hold” and an average target price of $84.62.

Hologic Price Performance

Shares of Hologic stock opened at $62.50 on Tuesday. The business has a 50 day simple moving average of $68.56 and a two-hundred day simple moving average of $75.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The stock has a market capitalization of $14.02 billion, a P/E ratio of 19.72, a PEG ratio of 2.14 and a beta of 0.97. Hologic has a 12 month low of $61.70 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, beating 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%. As a group, analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Hologic

Institutional investors have recently modified their holdings of the company. General Partner Inc. purchased a new position in shares of Hologic in the 4th quarter valued at about $26,000. Groupama Asset Managment increased its stake in Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 2,999 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Hologic by 156.3% in the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 261 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 260 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.