Hologic (NASDAQ:HOLX) Downgraded to “Neutral” Rating by BNP Paribas Exane

BNP Paribas Exane cut shares of Hologic (NASDAQ:HOLX) from an outperform rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $79.00 target price on the medical equipment provider’s stock.

Several other brokerages also recently issued reports on HOLX. Argus raised their price target on Hologic from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen lowered Hologic from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Raymond James Financial downgraded shares of Hologic from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada raised shares of Hologic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $72.00 to $87.00 in a research note on Wednesday, August 6th. Finally, Morgan Stanley upped their price target on shares of Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.67.

Hologic Trading Up 0.3%

Shares of NASDAQ HOLX traded up $0.24 during midday trading on Friday, reaching $74.36. 3,791,867 shares of the stock were exchanged, compared to its average volume of 2,860,067. Hologic has a 12 month low of $51.90 and a 12 month high of $80.31. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 2.54 and a beta of 0.65. 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 has a 50-day simple moving average of $70.59 and a two-hundred day simple moving average of $66.30.

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

Insider Buying and Selling

In related news, Director Christiana Stamoulis sold 7,402 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the completion of the transaction, the director owned 47,336 shares of the company’s stock, valued at approximately $3,458,841.52. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen P. Macmillan sold 138,358 shares of Hologic stock in a transaction on 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 completion of the sale, the chief executive officer owned 1,234,624 shares in the company, valued at $82,682,769.28. The trade was a 10.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hologic

Several hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in Hologic by 4.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,945 shares of the medical equipment provider’s stock worth $1,108,000 after acquiring an additional 767 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Hologic during the 1st quarter worth approximately $42,000. Neo Ivy Capital Management bought a new stake in shares of Hologic during the 1st quarter worth approximately $787,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Hologic by 2.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 215,964 shares of the medical equipment provider’s stock worth $13,340,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Hologic by 4.0% in the 1st quarter. Empirical Finance LLC now owns 8,703 shares of the medical equipment provider’s stock valued at $538,000 after buying an additional 334 shares during the last quarter. Institutional investors 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.