Hologic, Inc. (HOLX) Downgraded to “Buy” at BidaskClub
BidaskClub cut shares of Hologic, Inc. (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.
Several other research firms have also issued reports on HOLX. Stifel Nicolaus upped their price target on shares of Hologic from $45.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, May 11th. Jefferies Group LLC reissued a buy rating and issued a $49.00 price objective on shares of Hologic in a research report on Wednesday, June 28th. Bank of America Corporation reissued a neutral rating and issued a $48.00 price objective (up from $44.00) on shares of Hologic in a research report on Friday, July 21st. Canaccord Genuity reissued a buy rating and issued a $53.00 price objective on shares of Hologic in a research report on Tuesday, May 9th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $51.00 price objective on shares of Hologic in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $48.38.
Hologic (NASDAQ:HOLX) traded down 0.72% during mid-day trading on Tuesday, reaching $44.12. 2,689,152 shares of the company’s stock traded hands. The firm has a market cap of $12.35 billion, a PE ratio of 15.82 and a beta of 0.91. The firm has a 50 day moving average of $45.08 and a 200 day moving average of $42.89. Hologic has a 1-year low of $35.15 and a 1-year high of $46.80.
Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, May 10th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Hologic had a net margin of 27.31% and a return on equity of 25.26%. The firm had revenue of $715.40 million for the quarter, compared to analyst estimates of $685.24 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Hologic will post $2.01 EPS for the current year.
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In related news, VP Karleen Marie Oberton sold 4,704 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $45.19, for a total value of $212,573.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence M. Levy sold 10,203 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $45.00, for a total transaction of $459,135.00. Following the completion of the transaction, the director now owns 38,832 shares in the company, valued at $1,747,440. The disclosure for this sale can be found here. Insiders sold 73,765 shares of company stock worth $3,261,148 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in HOLX. TrimTabs Asset Management LLC increased its position in Hologic by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,993 shares of the medical equipment provider’s stock valued at $127,000 after buying an additional 1,408 shares during the period. Advisor Partners LLC acquired a new position in Hologic during the first quarter valued at approximately $201,000. Miles Capital Inc. acquired a new position in Hologic during the first quarter valued at approximately $206,000. Beck Mack & Oliver LLC acquired a new position in Hologic during the second quarter valued at approximately $209,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Hologic during the first quarter valued at approximately $210,000. Institutional investors and hedge funds own 94.09% 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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