Hologic, Inc. (NASDAQ:HOLX) Receives $87.60 Consensus PT from Analysts

Hologic, Inc. (NASDAQ:HOLX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $87.60.

A number of brokerages have recently commented on HOLX. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Hologic in a report on Tuesday. Evercore ISI increased their price target on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Tuesday, July 30th. Stephens reaffirmed an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

Hologic Stock Down 0.8 %

Shares of HOLX opened at $82.00 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic has a 52 week low of $64.02 and a 52 week high of $84.67. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.53 and a beta of 0.98. The stock has a fifty day moving average of $80.36 and a 200-day moving average of $76.92.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. As a group, sell-side analysts anticipate that Hologic will post 4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hologic news, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the sale, the insider now owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,280 shares of company stock worth $1,469,973. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Institutional investors and hedge funds have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in shares of Hologic during the second quarter valued at about $25,000. iA Global Asset Management Inc. bought a new stake in Hologic in the 1st quarter worth about $37,000. Sunbelt Securities Inc. purchased a new stake in Hologic in the 2nd quarter valued at about $37,000. Cranbrook Wealth Management LLC bought a new position in shares of Hologic during the 2nd quarter worth approximately $47,000. Finally, Mather Group LLC. purchased a new position in shares of Hologic in the 1st quarter worth approximately $48,000. 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.