Hologic (NASDAQ:HOLX) Given New $85.00 Price Target at Royal Bank of Canada

Hologic (NASDAQ:HOLX) had its price objective reduced by analysts at Royal Bank of Canada from $88.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 31.62% from the company’s current price.

Several other analysts also recently commented on the stock. UBS Group increased 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. 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 research note on Tuesday, November 5th. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of Hologic in a research report on Thursday. Finally, Jefferies Financial Group began coverage on Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Hologic currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $64.58 on Thursday. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. Hologic has a fifty-two week low of $63.88 and a fifty-two week high of $84.67. The firm’s 50-day simple moving average is $72.33 and its 200 day simple moving average is $77.76.

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

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value 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. The trade was a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Benson Investment Management Company Inc. bought a new position in shares of Hologic in the fourth quarter worth $4,832,000. Clean Yield Group lifted its holdings in Hologic by 18.9% during the 4th quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock worth $3,291,000 after purchasing an additional 7,266 shares in the last quarter. GAMMA Investing LLC boosted its stake in Hologic by 17.9% in the 3rd 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 period. Janus Henderson Group PLC grew its holdings in Hologic by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider’s stock valued at $2,344,000 after buying an additional 800 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Hologic during the third quarter valued at about $1,677,000. 94.73% of the stock is currently 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.