Needham & Company LLC Reaffirms Buy Rating for Hologic, Inc. (HOLX)
Needham & Company LLC restated their buy rating on shares of Hologic, Inc. (NASDAQ:HOLX) in a research report report published on Friday. The brokerage currently has a $50.00 price objective on the medical equipment provider’s stock.
“FDA’s latest monthly Mammography Quality Standards Act (MQSA) statistics were published on 11/1/17. The number of digital breast tomosynthesis (DBT) units increased by 143 during October which represents a 5.1% Y/Y increase. DBT unit penetration increased to 29.0% from 28.5% last month and facility penetration increased to 44.0% from 42.8% last month. More importantly, DBT units placements were up 5.1% in 10/17 vs. 10/16. Based on this, we think that HOLX’s Breast Health business could see improved growth in F1Q18.”,” Needham & Company LLC’s analyst wrote.
Several other brokerages have also issued reports on HOLX. Bank of America Corporation reissued a neutral rating and set a $48.00 target price (up from $44.00) on shares of Hologic in a research note on Friday, July 21st. Piper Jaffray Companies reaffirmed a buy rating and issued a $51.00 price objective on shares of Hologic in a research note on Friday, July 14th. Stifel Nicolaus reaffirmed a buy rating on shares of Hologic in a research note on Friday, July 14th. BidaskClub lowered shares of Hologic from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Finally, Barclays PLC reaffirmed an overweight rating and issued a $53.00 price objective (up from $50.00) on shares of Hologic in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $47.77.
Shares of Hologic (HOLX) traded down $0.56 during midday trading on Friday, reaching $39.00. 701,535 shares of the company traded hands, compared to its average volume of 2,828,663. The company has a market capitalization of $11,095.53, a price-to-earnings ratio of 19.39, a PEG ratio of 1.74 and a beta of 0.93. Hologic has a fifty-two week low of $35.76 and a fifty-two week high of $46.80. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.65 and a current ratio of 0.85.
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In related news, Director Lawrence M. Levy sold 7,138 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $37.38, for a total transaction of $266,818.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence M. Levy sold 9,596 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $36.81, for a total transaction of $353,228.76. The disclosure for this sale can be found here. Insiders have sold 23,873 shares of company stock valued at $898,754 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X MANAGEMENT CO LLC increased its stake in shares of Hologic by 16.6% in the third quarter. Global X MANAGEMENT CO LLC now owns 13,944 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 1,982 shares in the last quarter. Swiss National Bank increased its stake in shares of Hologic by 1.2% in the third quarter. Swiss National Bank now owns 1,173,724 shares of the medical equipment provider’s stock worth $43,064,000 after purchasing an additional 14,300 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Hologic by 167.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 78,116 shares of the medical equipment provider’s stock worth $2,866,000 after purchasing an additional 48,950 shares in the last quarter. Pettee Investors Inc. purchased a new position in shares of Hologic in the third quarter worth about $440,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Hologic by 64.1% in the third quarter. Daiwa Securities Group Inc. now owns 157,241 shares of the medical equipment provider’s stock worth $5,769,000 after purchasing an additional 61,442 shares in the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.
Hologic Company Profile
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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