Hologic, Inc. (NASDAQ:HOLX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Hologic, Inc. (NASDAQ:HOLX) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $89.50.

HOLX has been the subject of several research reports. Mizuho dropped their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their target price on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. BNP Paribas raised shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. UBS Group increased their target price on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Leerink Partners dropped their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th.

Hologic Stock Performance

NASDAQ HOLX opened at $72.72 on Friday. The firm has a 50-day moving average price of $77.79 and a two-hundred day moving average price of $78.45. Hologic has a 12-month low of $70.36 and a 12-month 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. The company has a market capitalization of $16.50 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same period in the previous year, the business earned $0.89 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the period. Black Creek Investment Management Inc. boosted its position in Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after buying an additional 885,524 shares during the period. Mackenzie Financial Corp lifted its position in Hologic by 1,023.3% in the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares during the last quarter. Marshall Wace LLP bought a new stake in Hologic in the 2nd quarter worth $39,427,000. Finally, The Manufacturers Life Insurance Company raised its position in Hologic by 21.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after purchasing an additional 450,190 shares during the last quarter. 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.