Raymond James Reaffirms “Outperform” Rating for Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX)‘s stock had its “outperform” rating restated by research analysts at Raymond James in a note issued to investors on Thursday,Benzinga reports. They currently have a $90.00 price target on the medical equipment provider’s stock, down from their previous price target of $95.00. Raymond James’ price target would indicate a potential upside of 36.21% from the company’s previous close.

Several other equities analysts have also recently weighed in on HOLX. Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $80.00 to $75.00 in a research note on Thursday. Morgan Stanley reduced their target price on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Wolfe Research began coverage on shares of Hologic in a report on Friday, December 13th. They issued a “peer perform” rating for the company. Needham & Company LLC lowered shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Hologic presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Hologic Stock Performance

HOLX traded down $6.73 during midday trading on Thursday, hitting $66.07. 4,296,425 shares of the company traded hands, compared to its average volume of 2,370,478. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $14.91 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The company’s 50-day moving average is $72.91 and its 200 day moving average is $77.95. Hologic has a 52 week low of $65.87 and a 52 week high of $84.67.

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

Insider Activity at Hologic

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 value of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.88% of the stock is currently owned by insiders.

Institutional Trading of Hologic

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of Hologic during the second quarter worth $1,212,000. Czech National Bank lifted its position in shares of Hologic by 6.4% during the third quarter. Czech National Bank now owns 47,316 shares of the medical equipment provider’s stock worth $3,854,000 after purchasing an additional 2,843 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Hologic by 17.9% during the third quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock worth $312,000 after purchasing an additional 582 shares during the last quarter. Marcum Wealth LLC bought a new stake in shares of Hologic during the third quarter worth $202,000. Finally, Wedmont Private Capital lifted its position in shares of Hologic by 3.7% during the third quarter. Wedmont Private Capital now owns 4,519 shares of the medical equipment provider’s stock worth $361,000 after purchasing an additional 162 shares during the last quarter. 94.73% of the stock is currently owned by 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.