Hologic (NASDAQ:HOLX) Rating Lowered to Neutral at Citigroup

Citigroup lowered shares of Hologic (NASDAQ:HOLX) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $85.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $95.00.

A number of other brokerages have also commented on HOLX. StockNews.com lowered shares of Hologic from a strong-buy rating to a buy rating in a report on Friday, September 27th. Needham & Company LLC reissued a buy rating and issued a $90.00 target price on shares of Hologic in a research note on Tuesday, September 17th. Stephens reaffirmed an overweight rating and set a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Evercore ISI upped their price objective on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on Hologic from $91.00 to $95.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $87.27.

Hologic Trading Up 1.3 %

Hologic stock opened at $80.24 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The stock has a market cap of $18.73 billion, a P/E ratio of 40.94, a PEG ratio of 2.58 and a beta of 0.98. The firm’s fifty day moving average price is $81.24 and its 200-day moving average price is $77.39.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that Hologic will post 4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brandon Schnittker sold 476 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the sale, the insider now owns 3,735 shares of the company’s stock, valued at $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,280 shares of company stock worth $1,469,973 over the last three months. Company insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Hologic by 77.7% in 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 last quarter. Swedbank AB bought a new stake in shares of Hologic in the first quarter worth approximately $120,827,000. Black Creek Investment Management Inc. raised its holdings in shares of Hologic by 60.9% during 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 purchasing an additional 885,524 shares during the last quarter. Mackenzie Financial Corp lifted its position in Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Hologic in the second quarter worth approximately $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.