Hologic (NASDAQ:HOLX) Price Target Lowered to $85.00 at Royal Bank of Canada

Hologic (NASDAQ:HOLX) had its price target decreased by analysts at Royal Bank of Canada from $88.00 to $85.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 28.07% from the company’s previous close.

Several other equities research analysts have also recently weighed in on HOLX. William Blair restated an “outperform” rating on shares of Hologic in a research note on Thursday. Raymond James lifted their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners lowered shares of Hologic from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $80.00 to $75.00 in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group assumed coverage on shares of Hologic in a research note on Tuesday, December 10th. They set a “hold” rating and a $85.00 target price for the company. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.15.

Hologic Trading Down 8.8 %

HOLX stock traded down $6.43 during midday trading on Thursday, hitting $66.37. 3,929,729 shares of the company’s stock were exchanged, compared to its average volume of 2,354,069. The company has a market cap of $14.98 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The stock’s fifty day moving average price is $72.91 and its 200-day moving average price is $77.95. Hologic has a one year low of $65.87 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.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Research analysts predict that Hologic will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is owned by insiders.

Institutional Trading of Hologic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Benson Investment Management Company Inc. bought a new position in Hologic during the 4th quarter valued at $4,832,000. Clean Yield Group increased its position in shares of Hologic by 18.9% in the fourth quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock worth $3,291,000 after acquiring an additional 7,266 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Hologic by 17.9% in the third quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock worth $312,000 after acquiring an additional 582 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Hologic by 2.9% in the third quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider’s stock valued at $2,344,000 after acquiring an additional 800 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Hologic in the third quarter worth $1,677,000. Institutional investors and hedge funds 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.