Hologic (NASDAQ:HOLX) Stock Rating Reaffirmed by Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $90.00 target price on the medical equipment provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 10.28% from the company’s previous close.

A number of other research analysts have also recently issued reports on HOLX. Stephens assumed coverage on Hologic in a research note on Thursday, June 27th. They issued an “overweight” rating and a $87.00 target price for the company. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Argus boosted their price target on Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.45.

Hologic Stock Down 1.1 %

NASDAQ:HOLX opened at $81.61 on Tuesday. Hologic has a 1 year low of $64.02 and a 1 year high of $82.65. 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 stock 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 stock has a 50-day moving average price of $74.95 and a two-hundred day moving average price of $75.19.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Hologic had a return on equity of 19.65% and a net margin of 17.59%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Hologic will post 4.08 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen P. Macmillan 44,039 shares of Hologic stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through the SEC website. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen P. Macmillan 44,039 shares of the company’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Hologic in the second quarter valued at approximately $25,000. iA Global Asset Management Inc. acquired a new position in shares of Hologic in the first quarter valued at approximately $37,000. Allworth Financial LP grew its position in shares of Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 179 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Hologic in the first quarter valued at approximately $48,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.