JPMorgan Chase & Co. Increases Hologic (NASDAQ:HOLX) Price Target to $94.00

Hologic (NASDAQ:HOLX) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $92.00 to $94.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.79% from the stock’s previous close.

Several other equities research analysts also recently weighed in on HOLX. Evercore ISI increased their price objective on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Stephens restated an “overweight” rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Leerink Partners decreased their price target on Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Mizuho boosted their target price on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Citigroup cut Hologic from a “buy” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.42.

Hologic Trading Down 4.7 %

NASDAQ:HOLX traded down $3.92 during midday trading on Tuesday, hitting $79.80. The stock had a trading volume of 1,096,986 shares, compared to its average volume of 1,579,662. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $18.54 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 2.98 and a beta of 0.98. The stock has a 50-day moving average of $80.99 and a 200 day moving average of $78.02. Hologic has a one year low of $66.93 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Hologic will post 4.09 EPS for the current year.

Hedge Funds Weigh In On Hologic

Institutional investors and hedge funds have recently bought and sold shares of the business. Norden Group LLC boosted its stake in shares of Hologic by 44.0% during the 1st quarter. Norden Group LLC now owns 5,480 shares of the medical equipment provider’s stock valued at $427,000 after buying an additional 1,675 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Hologic during the first quarter worth $63,000. Daiwa Securities Group Inc. boosted its position in Hologic by 0.8% during the first quarter. Daiwa Securities Group Inc. now owns 36,160 shares of the medical equipment provider’s stock valued at $2,819,000 after purchasing an additional 270 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Hologic by 22.6% in the first quarter. Mutual of America Capital Management LLC now owns 40,286 shares of the medical equipment provider’s stock valued at $3,141,000 after purchasing an additional 7,432 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Hologic in the 1st quarter worth about $77,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Company Profile

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.