Hologic’s (HOLX) “Buy” Rating Reaffirmed at Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They presently have a $90.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 17.59% from the stock’s current price.

A number of other equities research analysts also recently weighed in on HOLX. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. StockNews.com downgraded Hologic from a “buy” rating to a “hold” rating in a report on Friday, March 8th. UBS Group upped their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Evercore ISI raised their target price on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Hologic Stock Up 0.8 %

Shares of Hologic stock opened at $76.54 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $76.13 and a 200 day moving average price of $73.02. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $86.74. The firm has a market cap of $17.97 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.59 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company posted $1.06 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles J. Dockendorff sold 1,465 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the transaction, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Large investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Hologic during the 4th quarter worth $27,000. Venturi Wealth Management LLC purchased a new stake in shares of Hologic during the third quarter valued at $29,000. NBC Securities Inc. acquired a new position in shares of Hologic in the 3rd quarter valued at $33,000. Deseret Mutual Benefit Administrators increased its stake in Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 155 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 227 shares during the period. 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.