Needham & Company LLC Reiterates Buy Rating for Hologic (NASDAQ:HOLX)

Needham & Company LLC restated their buy rating on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $90.00 price target on the medical equipment provider’s stock.

HOLX has been the subject of a number of other reports. Raymond James upped their price target on shares of Hologic from $85.00 to $88.00 and gave the company an outperform rating in a report on Friday, February 2nd. Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and upped their target price for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. StockNews.com cut Hologic from a buy rating to a hold rating in a report on Friday, March 8th. Evercore ISI increased their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Finally, UBS Group upped their target price on Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Stock Down 0.8 %

Shares of Hologic stock traded down $0.61 during trading on Friday, hitting $75.93. 1,520,649 shares of the stock traded hands, compared to its average volume of 1,751,851. The company has a fifty day moving average price of $76.13 and a two-hundred day moving average price of $73.09. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74. The stock has a market cap of $17.82 billion, a P/E ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.91%. Hologic’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. Equities research analysts predict that Hologic will post 4.08 EPS for the current fiscal year.

Insider Transactions at Hologic

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the transaction, the director now directly owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hologic news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares of the company’s stock, valued at $119,802.12. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Hologic by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 5,055,048 shares of the medical equipment provider’s stock worth $361,183,000 after purchasing an additional 216,958 shares during the last quarter. Norges Bank bought a new stake in Hologic in the 4th quarter worth approximately $217,529,000. The Manufacturers Life Insurance Company grew its holdings in shares of Hologic by 117.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock valued at $154,598,000 after purchasing an additional 1,168,564 shares during the last quarter. TD Asset Management Inc raised its position in Hologic by 2.8% in the 4th quarter. TD Asset Management Inc now owns 1,897,705 shares of the medical equipment provider’s stock worth $135,591,000 after purchasing an additional 52,243 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Hologic by 9.0% during the third quarter. Hsbc Holdings PLC now owns 1,721,339 shares of the medical equipment provider’s stock valued at $119,472,000 after buying an additional 141,542 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.