Hologic (NASDAQ:HOLX) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Hologic (NASDAQ:HOLX) in a report published on Friday, Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the medical equipment provider’s stock.

Several other research analysts have also weighed in on the company. UBS Group upped their price target on Hologic from $78.00 to $79.00 and gave the company a neutral rating in a research report on Friday, February 2nd. StockNews.com lowered shares of Hologic from a buy rating to a hold rating in a research note on Friday, March 8th. Raymond James lifted their target price on shares of Hologic from $85.00 to $88.00 and gave the company an outperform rating in a research note on Friday, February 2nd. William Blair restated an outperform rating on shares of Hologic in a report on Friday, February 2nd. Finally, Citigroup upgraded Hologic from a neutral rating to a buy rating and increased their price objective for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hologic presently has a consensus rating of Moderate Buy and an average target price of $84.56.

Hologic Trading Up 0.8 %

HOLX stock traded up $0.63 during mid-day trading on Friday, reaching $76.54. 2,069,424 shares of the stock traded hands, compared to its average volume of 1,449,410. The stock’s fifty day moving average is $76.13 and its 200-day moving average is $73.02. The company has a market cap of $17.97 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.56 and a beta of 1.01. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55. Hologic has a 52-week low of $64.02 and a 52-week high of $86.74.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Hologic will post 4.02 earnings per share for the current year.

Insider Activity at Hologic

In other Hologic 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 transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction dated 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 in the company, valued at $119,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction that occurred on 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 owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new position in Hologic during the fourth quarter worth $27,000. Venturi Wealth Management LLC bought a new position in shares of Hologic during the 3rd quarter worth about $29,000. NBC Securities Inc. acquired a new position in shares of Hologic during the third quarter valued at about $33,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Hologic by 42.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 155 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in Hologic by 69.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 227 shares in the last quarter. 94.73% of the stock is owned by 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.