Needham & Company LLC reiterated their buy rating on shares of Hologic (NASDAQ:HOLX) in a report released on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $52.00 price target on the medical equipment provider’s stock.

“FDA’s latest monthly Act (MQSA) statistics were published on 7/1/19. The number of digital breast tomosynthesis (DBT) units increased by 92 during June which represents a 30.8% Y/Y decrease. DBT unit penetration increased to 37.3% from 37.0% last month and facility penetration increased to 62.1% from 61.4% last month. More importantly, DBT units placements were up 2.7% quarter-to-date (QTD) in 2Q19 vs. 2Q18. We note that HOLX’s 3D mammography sales are less than 13% of its total sales. Please contact your Needham salesperson for a copy of our MQSA spreadsheet.”,” Needham & Company LLC’s analyst commented.

A number of other analysts have also recently issued reports on HOLX. TheStreet cut ZTO Express (Cayman) from a b+ rating to a c rating in a report on Wednesday, May 1st. ValuEngine upgraded China Southern Airlines from a sell rating to a hold rating in a report on Tuesday, June 11th. BTIG Research boosted their target price on Yum! Brands to $114.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded Hudson Technologies from a sell rating to a hold rating in a report on Wednesday, May 29th. Finally, BidaskClub cut ZIX from a strong-buy rating to a buy rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Hologic presently has an average rating of Hold and an average target price of $45.02.

NASDAQ HOLX opened at $47.32 on Wednesday. Hologic has a 12 month low of $37.47 and a 12 month high of $49.78. The company’s 50-day moving average is $47.02. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.02 and a current ratio of 1.45. The firm has a market cap of $12.68 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.20 and a beta of 0.72.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, May 1st. The medical equipment provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Hologic had a negative net margin of 0.32% and a positive return on equity of 26.73%. The company had revenue of $818.40 million during the quarter, compared to the consensus estimate of $806.99 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that Hologic will post 2.42 EPS for the current fiscal year.

In other Hologic news, insider Peter J. Valenti III sold 4,545 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.07, for a total value of $200,298.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. FMR LLC boosted its holdings in Hologic by 419.2% in the 1st quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock worth $641,996,000 after acquiring an additional 10,709,693 shares during the period. American Century Companies Inc. purchased a new position in shares of Hologic during the 4th quarter valued at approximately $104,871,000. Norges Bank purchased a new position in shares of Hologic during the 4th quarter valued at approximately $75,662,000. Janus Henderson Group PLC boosted its stake in shares of Hologic by 1,210.3% during the 1st quarter. Janus Henderson Group PLC now owns 916,994 shares of the medical equipment provider’s stock valued at $44,382,000 after buying an additional 847,011 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Hologic by 230.9% during the 1st quarter. Bank of Montreal Can now owns 1,089,553 shares of the medical equipment provider’s stock valued at $52,734,000 after buying an additional 760,312 shares during the last quarter. Hedge funds and other institutional investors own 96.38% of the company’s stock.

About Hologic

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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Analyst Recommendations for Hologic (NASDAQ:HOLX)

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