Hologic (NASDAQ:HOLX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Hologic (NASDAQ:HOLX) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $90.00 price objective on the medical equipment provider’s stock.

A number of other research analysts have also weighed in on the stock. Evercore ISI raised their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Raymond James lifted their price target on Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 2nd. UBS Group increased their price target on shares of Hologic from $78.00 to $79.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Citigroup raised Hologic from a neutral rating to a buy rating and raised their price objective for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, StockNews.com cut shares of Hologic from a buy rating to a hold rating in a research report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hologic has a consensus rating of Moderate Buy and a consensus price target of $84.56.

Hologic Stock Performance

HOLX stock traded up $0.63 during trading on Friday, hitting $76.54. 2,069,424 shares of the company traded hands, compared to its average volume of 1,449,410. The company has a market cap of $17.97 billion, a PE ratio of 39.05, a P/E/G ratio of 2.56 and a beta of 1.01. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74. The stock’s 50-day simple moving average is $76.13 and its 200 day simple moving average is $73.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18.

Hologic (NASDAQ:HOLX) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted $1.06 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts expect that Hologic will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in shares of Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 137 shares during the last quarter. Graypoint LLC lifted its stake in shares of Hologic by 3.9% during the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock worth $302,000 after purchasing an additional 147 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in shares of Hologic by 42.2% during the third 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 during the last quarter. Arizona State Retirement System grew its position in shares of Hologic by 0.3% in the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock valued at $4,810,000 after purchasing an additional 172 shares during the period. Finally, Lincoln National Corp increased its stake in Hologic by 4.0% in the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 178 shares during the last quarter. 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.