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.

Analyst Recommendations for Hologic (NASDAQ:HOLX)

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