Royal Bank of Canada Issues Positive Forecast for Hologic (NASDAQ:HOLX) Stock Price

Hologic (NASDAQ:HOLX) had its price target boosted by Royal Bank of Canada from $86.00 to $89.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a sector perform rating on the medical equipment provider’s stock.

Several other research analysts have also recently commented on HOLX. Stephens reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Leerink Partners decreased their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday. Mizuho lifted their price objective on Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Evercore ISI increased their target price on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.25.

Hologic Price Performance

NASDAQ:HOLX opened at $78.80 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. The stock has a market cap of $18.30 billion, a P/E ratio of 26.80, a PEG ratio of 2.98 and a beta of 0.98. The company has a fifty day moving average price of $81.06 and a 200 day moving average price of $78.08. Hologic has a one year low of $66.93 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Hologic will post 4.09 earnings per share for the current year.

Hedge Funds Weigh In On Hologic

Several large investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC bought a new position in Hologic during the third quarter worth about $25,000. Innealta Capital LLC acquired a new stake in Hologic during the 2nd quarter worth $25,000. iA Global Asset Management Inc. bought a new position in shares of Hologic during the 1st quarter valued at about $37,000. Sunbelt Securities Inc. bought a new position in Hologic in the second quarter valued at approximately $37,000. Finally, Cromwell Holdings LLC boosted its stake in Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 416 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.