Hologic (NASDAQ:HOLX) Given New $95.00 Price Target at Raymond James

Hologic (NASDAQ:HOLX) had its price target boosted by Raymond James from $93.00 to $95.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other research analysts also recently commented on HOLX. Leerink Partners reduced 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. StockNews.com downgraded shares of Hologic from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Stephens reissued an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Citigroup lowered Hologic from a “buy” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price target on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.25.

Hologic Stock Down 5.9 %

Shares of NASDAQ:HOLX opened at $78.80 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. The business has a 50 day simple moving average of $81.06 and a two-hundred day simple moving average of $78.08. Hologic has a 1 year low of $66.93 and a 1 year high of $84.67. The firm has a market capitalization of $18.30 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data 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 company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter in the previous year, the business earned $0.89 EPS. Hologic’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Hologic will post 4.09 EPS for the current year.

Hedge Funds Weigh In On Hologic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position 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 valued at $490,931,000 after buying an additional 2,753,016 shares during the last quarter. Swedbank AB acquired a new stake in Hologic in the first quarter valued at approximately $120,827,000. Black Creek Investment Management Inc. boosted its stake in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after acquiring an additional 885,524 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after purchasing an additional 815,960 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Hologic during the second quarter worth $39,427,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.