Analysts Set Hologic, Inc. (NASDAQ:HOLX) Price Target at $79.77

Shares of Hologic, Inc. (NASDAQ:HOLX) have received an average recommendation of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $79.7692.

Several equities research analysts have recently weighed in on HOLX shares. Mizuho downgraded shares of Hologic from an “outperform” rating to a “neutral” rating and increased their target price for the company from $70.00 to $78.00 in a research note on Thursday, October 23rd. Raymond James Financial lowered shares of Hologic from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Stephens lowered Hologic from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Evercore ISI set a $78.00 price target on Hologic and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hologic in a report on Friday, October 31st.

Hologic Trading Down 0.0%

Shares of NASDAQ HOLX opened at $74.11 on Wednesday. Hologic has a 1-year low of $51.90 and a 1-year high of $80.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81. The business’s 50 day moving average is $70.06 and its two-hundred day moving average is $66.04. The stock has a market capitalization of $16.48 billion, a P/E ratio of 30.75, a PEG ratio of 2.54 and a beta of 0.65.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Hologic had a return on equity of 19.69% and a net margin of 13.79%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that Hologic will post 4.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christiana Stamoulis sold 7,402 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the transaction, the director directly owned 47,336 shares in the company, valued at approximately $3,458,841.52. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen P. Macmillan sold 138,358 shares of Hologic stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $66.97, for a total transaction of $9,265,835.26. Following the sale, the chief executive officer owned 1,234,624 shares of the company’s stock, valued at $82,682,769.28. The trade was a 10.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Hologic by 46.0% in the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 216 shares in the last quarter. Xponance Inc. raised its holdings in shares of Hologic by 5.0% in the 1st quarter. Xponance Inc. now owns 35,726 shares of the medical equipment provider’s stock valued at $2,207,000 after purchasing an additional 1,699 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Hologic in the 1st quarter worth approximately $1,038,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Hologic by 11.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 49,209 shares of the medical equipment provider’s stock valued at $3,040,000 after purchasing an additional 4,918 shares in the last quarter. Finally, Leo Wealth LLC increased its holdings in Hologic by 25.5% during the first quarter. Leo Wealth LLC now owns 7,505 shares of the medical equipment provider’s stock valued at $464,000 after buying an additional 1,527 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.