Hologic (NASDAQ:HOLX) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

HOLX has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on shares of Hologic from $81.00 to $82.00 and gave the company a sector perform rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Argus raised their price objective on shares of Hologic from $89.00 to $95.00 and gave the stock a buy rating in a report on Thursday, May 9th. Evercore ISI upped their target price on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC restated a buy rating and set a $90.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Hologic currently has a consensus rating of Moderate Buy and an average price target of $87.60.

Hologic Trading Down 1.5 %

NASDAQ:HOLX opened at $82.36 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $75.51 and its 200-day moving average is $75.42. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 42.02, a P/E/G ratio of 2.64 and a beta of 0.99. Hologic has a 12 month low of $64.02 and a 12 month high of $84.15.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Equities analysts anticipate that Hologic will post 4.08 EPS for the current year.

Insider Buying and Selling at Hologic

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. The disclosure for this sale can be found here. Insiders have sold 17,804 shares of company stock valued at $1,430,413 in the last 90 days. 1.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hologic

Several institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new position in Hologic in the second quarter valued at approximately $25,000. iA Global Asset Management Inc. bought a new position in shares of Hologic during the first quarter valued at $37,000. Allworth Financial LP increased its holdings in Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 179 shares during the period. Mather Group LLC. bought a new stake in shares of Hologic in the 1st quarter valued at about $48,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in 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 acquiring an additional 137 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.