Hologic (NASDAQ:HOLX) Given New $73.00 Price Target at Evercore ISI

Hologic (NASDAQ:HOLX) had its price objective reduced by Evercore ISI from $76.00 to $73.00 in a research note released on Thursday morning,Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

Several other equities analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $84.00 price target on shares of Hologic in a report on Thursday. UBS Group upped their target price on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Leerink Partners lowered Hologic from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $80.00 to $75.00 in a report on Thursday. Raymond James upped their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Mizuho reduced their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Hologic Price Performance

Shares of NASDAQ:HOLX opened at $65.45 on Thursday. The company has a market cap of $14.77 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.35 and a beta of 0.98. The business has a fifty day simple moving average of $72.63 and a 200-day simple moving average of $77.86. Hologic has a 52 week low of $64.87 and a 52 week high of $84.67. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last issued its earnings results 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 return on equity of 19.79% and a net margin of 19.59%. Equities research analysts forecast 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 Hologic stock in a transaction 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 completion of the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Prentiss Smith & Co. Inc. lifted its holdings in shares of Hologic by 0.3% in the third quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock worth $3,967,000 after buying an additional 130 shares in the last quarter. Covestor Ltd increased its position in shares of Hologic by 23.8% in the third quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 133 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares during the period. Brooklyn Investment Group boosted its position in shares of Hologic by 14.7% during the fourth quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock valued at $82,000 after purchasing an additional 145 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in Hologic by 1.8% in the third quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock worth $690,000 after purchasing an additional 147 shares during the period. 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.