Needham & Company LLC Reiterates Buy Rating for Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $90.00 price target on the medical equipment provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 9.84% from the stock’s previous close.

Several other equities analysts have also commented on the company. StockNews.com lowered Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $85.00 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 report on Tuesday, July 30th. Evercore ISI increased their target price on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price 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 nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Hologic Price Performance

Shares of Hologic stock opened at $81.94 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $19.12 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.98. The business’s 50-day moving average price is $81.04 and its 200-day moving average price is $77.67. Hologic has a 12 month low of $64.02 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. Sell-side analysts forecast that Hologic will post 4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hologic news, insider Benjamin Jordan Cohn sold 5,093 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares in the company, valued at $858,927.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HOLX. Massmutual Trust Co. FSB ADV increased its position in Hologic by 24.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 137 shares in the last quarter. Graypoint LLC increased its position in Hologic by 3.9% during the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 147 shares in the last quarter. Wedmont Private Capital increased its position in Hologic by 3.7% during the 3rd quarter. Wedmont Private Capital now owns 4,519 shares of the medical equipment provider’s stock valued at $361,000 after buying an additional 162 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Hologic by 2.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after buying an additional 165 shares in the last quarter. Finally, Curbstone Financial Management Corp increased its position in Hologic by 0.9% during the 2nd quarter. Curbstone Financial Management Corp now owns 23,126 shares of the medical equipment provider’s stock valued at $1,717,000 after buying an additional 200 shares in the last quarter. 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.