Hologic (NASDAQ:HOLX) Price Target Raised to $82.00 at Royal Bank of Canada

Hologic (NASDAQ:HOLX) had its price objective increased by research analysts at Royal Bank of Canada from $81.00 to $82.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 0.48% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Stephens began coverage on shares of Hologic in a research note on Thursday, June 27th. They set an “overweight” rating and a $87.00 target price on the stock. Evercore ISI decreased their target price on shares of Hologic from $78.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday. Finally, Citigroup upgraded shares of 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.45.

Hologic Stock Performance

HOLX opened at $81.61 on Tuesday. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.65 and a beta of 0.99. The company’s 50 day moving average is $74.95 and its 200 day moving average is $75.19. Hologic has a 12-month low of $64.02 and a 12-month high of $82.65.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.65%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, equities research analysts predict that Hologic will post 4.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the sale, the director now owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the sale, the director now owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in Hologic during the fourth quarter worth $217,529,000. Nordea Investment Management AB boosted its stake in Hologic by 1.3% during the first quarter. Nordea Investment Management AB now owns 1,507,743 shares of the medical equipment provider’s stock worth $116,797,000 after buying an additional 19,680 shares during the period. Pinebridge Investments L.P. boosted its stake 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 buying an additional 113,050 shares during the period. Clearbridge Investments LLC boosted its stake in Hologic by 51.4% during the first quarter. Clearbridge Investments LLC now owns 518,596 shares of the medical equipment provider’s stock worth $40,430,000 after buying an additional 176,006 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Hologic by 18.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,184,427 shares of the medical equipment provider’s stock worth $170,297,000 after buying an additional 338,212 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.