Piper Jaffray Companies Raises Hologic (NASDAQ:HOLX) Price Target to $59.00

Hologic (NASDAQ:HOLX) had its target price lifted by Piper Jaffray Companies from $49.00 to $59.00 in a research note issued to investors on Thursday, August 1st, The Fly reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities research analysts have also commented on HOLX. ValuEngine upgraded Hologic from a hold rating to a buy rating in a research report on Tuesday, June 11th. BidaskClub raised Hologic from a hold rating to a buy rating in a report on Saturday, July 27th. BTIG Research reissued a buy rating and issued a $52.00 price target on shares of Hologic in a report on Thursday, August 1st. Needham & Company LLC reissued a buy rating and issued a $57.00 price target (up from $52.00) on shares of Hologic in a report on Thursday, August 1st. Finally, Zacks Investment Research raised Hologic from a hold rating to a buy rating and set a $46.00 price target for the company in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $48.94.

NASDAQ HOLX traded down $1.71 during trading hours on Thursday, reaching $48.13. The stock had a trading volume of 1,523,586 shares, compared to its average volume of 1,572,031. The stock has a fifty day moving average of $49.19 and a 200 day moving average of $47.07. The stock has a market cap of $13.33 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. Hologic has a 52-week low of $37.47 and a 52-week high of $52.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.11 and a current ratio of 1.57.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $852.40 million for the quarter, compared to analyst estimates of $836.91 million. Hologic had a positive return on equity of 27.95% and a negative net margin of 0.89%. Hologic’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, equities research analysts forecast that Hologic will post 2.44 EPS for the current year.

In other news, Chairman Stephen P. Macmillan sold 194,396 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $48.77, for a total transaction of $9,480,692.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter J. Valenti III sold 4,545 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.07, for a total value of $200,298.15. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Hologic by 0.5% in the 2nd quarter. BlackRock Inc. now owns 18,609,553 shares of the medical equipment provider’s stock valued at $893,630,000 after purchasing an additional 95,737 shares during the last quarter. Natixis acquired a new position in Hologic in the 2nd quarter valued at $4,191,000. Colony Group LLC acquired a new position in Hologic in the 2nd quarter valued at $1,288,000. Royal Bank of Canada raised its stake in Hologic by 59.2% in the 2nd quarter. Royal Bank of Canada now owns 132,671 shares of the medical equipment provider’s stock valued at $6,372,000 after purchasing an additional 49,330 shares during the last quarter. Finally, UBS Group AG grew its holdings in Hologic by 18.7% in the 2nd quarter. UBS Group AG now owns 356,495 shares of the medical equipment provider’s stock valued at $17,119,000 after buying an additional 56,156 shares in the last quarter. 96.17% of the stock is owned by institutional investors and hedge funds.

About Hologic

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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The Fly

Analyst Recommendations for Hologic (NASDAQ:HOLX)

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