Hologic (NASDAQ:HOLX) Coverage Initiated at Stephens

Stephens started coverage on shares of Hologic (NASDAQ:HOLX) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $87.00 target price on the medical equipment provider’s stock.

A number of other equities research analysts have also commented on HOLX. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price objective on shares of Hologic in a research note on Friday, May 3rd. Argus increased their price target on Hologic from $89.00 to $95.00 and gave the stock a buy rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on Hologic from $85.00 to $91.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Citigroup raised Hologic from a neutral rating to a buy rating and raised their target price for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Finally, Evercore ISI boosted their price target on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hologic has an average rating of Moderate Buy and an average price target of $85.73.

Hologic Stock Performance

NASDAQ HOLX opened at $74.25 on Thursday. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.47 and a beta of 1.00. Hologic has a twelve month low of $64.02 and a twelve month high of $82.45. The stock has a fifty day simple moving average of $74.32 and a 200 day simple moving average of $74.32. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that Hologic will post 4.08 EPS for the current year.

Institutional Trading of Hologic

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Hologic in the 4th quarter valued at $217,529,000. Pinebridge Investments L.P. boosted its holdings in Hologic by 39.8% during the fourth quarter. Pinebridge Investments L.P. now owns 397,251 shares of the medical equipment provider’s stock worth $28,384,000 after purchasing an additional 113,050 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Hologic in the 4th quarter worth about $1,057,000. Thematics Asset Management increased its stake in Hologic by 18.0% in the 4th quarter. Thematics Asset Management now owns 433,487 shares of the medical equipment provider’s stock valued at $30,973,000 after buying an additional 66,158 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Hologic by 133.2% during the 4th quarter. Cibc World Markets Corp now owns 31,524 shares of the medical equipment provider’s stock worth $2,252,000 after buying an additional 18,005 shares in the last quarter. Institutional investors and hedge funds 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.