Hologic (NASDAQ:HOLX) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX) from a hold rating to a buy rating in a report published on Thursday.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upped their price target on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Leerink Partners cut their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Raymond James upped their price objective on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Mizuho cut their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.91.

Hologic Price Performance

Shares of HOLX opened at $78.60 on Thursday. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.48 and a beta of 0.98. The firm’s fifty day simple moving average is $80.71 and its 200-day simple moving average is $78.25. Hologic has a twelve month low of $67.59 and a twelve month high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. Equities analysts forecast that Hologic will post 4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after purchasing an additional 2,753,016 shares during the period. FMR LLC raised its position in Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after buying an additional 2,174,093 shares during the last quarter. Swedbank AB purchased a new position in Hologic during the 1st quarter worth $120,827,000. Black Creek Investment Management Inc. lifted its stake in shares of Hologic by 60.9% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Hologic by 1,023.3% in the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after acquiring an additional 815,960 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.