Hologic (NASDAQ:HOLX) Price Target Cut to $70.00 by Analysts at Stephens

Hologic (NASDAQ:HOLX) had its price objective reduced by Stephens from $77.00 to $70.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

HOLX has been the subject of a number of other research reports. Royal Bank of Canada reduced their price target on Hologic from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Raymond James restated an “outperform” rating and issued a $71.00 price target (down previously from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. William Blair restated an “outperform” rating on shares of Hologic in a research report on Thursday, February 6th. Finally, Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.42.

Hologic Trading Up 0.7%

NASDAQ:HOLX opened at $55.74 on Tuesday. The company has a 50 day simple moving average of $58.88 and a two-hundred day simple moving average of $67.68. The company has a market cap of $12.42 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.14 and a beta of 0.54. Hologic has a 12 month low of $51.90 and a 12 month high of $84.67. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last released its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business earned $1.03 earnings per share. Hologic’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Martin D. Madaus purchased 5,445 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director now directly owns 5,445 shares in the company, valued at $300,781.80. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

Hedge funds have recently bought and sold shares of the stock. Benson Investment Management Company Inc. purchased a new stake in Hologic in the 4th quarter worth $4,832,000. Principal Financial Group Inc. lifted its stake in Hologic by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider’s stock worth $19,547,000 after purchasing an additional 1,606 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Hologic by 44.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 63,744 shares of the medical equipment provider’s stock worth $4,595,000 after purchasing an additional 19,688 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Hologic by 11.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 68,427 shares of the medical equipment provider’s stock worth $4,933,000 after buying an additional 6,986 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in shares of Hologic by 63.4% in the 4th quarter. Groupama Asset Managment now owns 54,214 shares of the medical equipment provider’s stock worth $3,918,000 after buying an additional 21,037 shares during the last quarter. Hedge funds and other 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.