Hologic (HOLX) Stock Rating Reaffirmed by Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Hologic (NASDAQ:HOLX) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm currently has a $50.00 price target on the medical equipment provider’s stock, up from their previous price target of $48.00.
Other analysts also recently issued research reports about the stock. Cowen upgraded shares of Hologic to a buy rating and set a $52.00 target price for the company in a report on Wednesday, December 20th. Bank of America upgraded shares of Hologic from a neutral rating to a buy rating and set a $50.00 target price for the company in a report on Thursday, January 4th. Piper Jaffray Companies reiterated a buy rating and issued a $48.00 target price on shares of Hologic in a report on Thursday, November 9th. Jefferies Group reiterated a buy rating and issued a $44.00 target price (down previously from $49.00) on shares of Hologic in a report on Tuesday, October 10th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $45.00 target price (down previously from $48.00) on shares of Hologic in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Hologic has an average rating of Buy and a consensus price target of $48.79.
Shares of Hologic (NASDAQ:HOLX) traded up $0.16 during mid-day trading on Tuesday, hitting $43.71. 3,060,034 shares of the stock traded hands, compared to its average volume of 1,908,935. The stock has a market capitalization of $12,006.02, a P/E ratio of 16.56, a P/E/G ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.61 and a current ratio of 0.79. Hologic has a 52 week low of $35.76 and a 52 week high of $46.80.
Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, November 8th. The medical equipment provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $802.90 million during the quarter, compared to the consensus estimate of $792.54 million. Hologic had a net margin of 24.70% and a return on equity of 21.69%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. equities research analysts predict that Hologic will post 2.15 earnings per share for the current year.
In related news, VP Karleen Marie Oberton sold 1,023 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $39.84, for a total transaction of $40,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elaine Ullian sold 9,282 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $40.50, for a total transaction of $375,921.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,099 shares of company stock valued at $487,223. 0.79% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Hologic by 4.2% during the second quarter. Vanguard Group Inc. now owns 29,547,138 shares of the medical equipment provider’s stock worth $1,340,850,000 after purchasing an additional 1,200,825 shares during the period. Parnassus Investments CA bought a new position in Hologic during the third quarter worth about $277,062,000. Capital World Investors bought a new position in Hologic during the second quarter worth about $312,441,000. Victory Capital Management Inc. boosted its position in Hologic by 16.8% during the third quarter. Victory Capital Management Inc. now owns 5,856,778 shares of the medical equipment provider’s stock worth $214,885,000 after purchasing an additional 844,426 shares during the period. Finally, Northern Trust Corp boosted its position in Hologic by 2.5% during the second quarter. Northern Trust Corp now owns 3,277,739 shares of the medical equipment provider’s stock worth $148,743,000 after purchasing an additional 79,697 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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