Hologic (NASDAQ:HOLX) Rating Increased to Buy at StockNews.com

Hologic (NASDAQ:HOLX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other research firms also recently commented on HOLX. Mizuho dropped their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their target price on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Evercore ISI lifted their price target on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, UBS Group increased their price target on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.91.

Hologic Stock Performance

Shares of HOLX stock opened at $78.60 on Thursday. The company has a market cap of $18.26 billion, a P/E ratio of 23.60, a PEG ratio of 2.50 and a beta of 0.98. The firm has a fifty day moving average price of $80.71 and a 200 day moving average price of $78.23. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. Hologic has a 12 month low of $67.59 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS. Sell-side analysts predict that Hologic will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hologic

Institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC acquired a new stake in shares of Hologic in the third quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of Hologic during the 2nd quarter valued at approximately $25,000. iA Global Asset Management Inc. purchased a new stake in shares of Hologic during the 1st quarter worth approximately $37,000. First Horizon Advisors Inc. grew its holdings 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 acquiring an additional 134 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in Hologic in the 2nd quarter valued at approximately $37,000. 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.