Hologic’s (HOLX) Buy Rating Reiterated at Needham & Company LLC

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

Other equities analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Mizuho reduced their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on Hologic in a research report on Tuesday, December 10th. They set a “hold” rating and a $85.00 target price on the stock. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Raymond James upped their price objective on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Hologic currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Hologic Trading Up 1.3 %

NASDAQ HOLX opened at $71.65 on Thursday. The firm’s fifty day moving average is $78.49 and its two-hundred day moving average is $78.50. Hologic has a one year low of $70.36 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The firm has a market cap of $16.26 billion, a PE ratio of 21.52, a P/E/G ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same period in the prior year, the business earned $0.89 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.75% of the stock is currently owned by company insiders.

Institutional Trading of Hologic

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new position in Hologic in the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC purchased a new position in shares of Hologic during the third quarter valued at approximately $25,000. Groupama Asset Managment boosted its position in Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 2,999 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Hologic in the 2nd quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. raised its holdings in Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds 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.