Raymond James Reaffirms “Outperform” Rating for Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX)‘s stock had its “outperform” rating reissued by Raymond James in a note issued to investors on Thursday,Benzinga reports. They currently have a $90.00 target price on the medical equipment provider’s stock, down from their prior target price of $95.00. Raymond James’ price target indicates a potential upside of 39.36% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. William Blair reissued an “outperform” rating on shares of Hologic in a report on Thursday. Evercore ISI cut their target price on Hologic from $76.00 to $73.00 and set an “in-line” rating for the company in a research note on Thursday. Jefferies Financial Group began coverage on Hologic in a research note on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $84.00 price objective on shares of Hologic in a research report on Thursday. Finally, BNP Paribas raised Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Hologic Stock Down 1.3 %

Hologic stock opened at $64.58 on Thursday. The stock has a 50 day moving average of $72.33 and a two-hundred day moving average of $77.76. Hologic has a twelve month low of $63.88 and a twelve month high of $84.67. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.35 and a beta of 0.98. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

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

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Wolff Wiese Magana LLC acquired a new stake in shares of Hologic during the 3rd quarter worth about $25,000. General Partner Inc. purchased a new position in shares of Hologic during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its position in Hologic by 156.3% during the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 261 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 134 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 416 shares during the period. 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.