Hologic (NASDAQ:HOLX) Receives “Outperform” Rating from Raymond James

Hologic (NASDAQ:HOLX)‘s stock had its “outperform” rating reissued by research analysts at Raymond James in a report released on Thursday,Benzinga reports. They currently have a $90.00 price target on the medical equipment provider’s stock, down from their prior price target of $95.00. Raymond James’ price target indicates a potential upside of 36.21% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wolfe Research began coverage on shares of Hologic in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Morgan Stanley reduced their target price on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, William Blair reiterated an “outperform” rating on shares of Hologic in a research note on Thursday. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Hologic Trading Down 9.2 %

HOLX traded down $6.73 during trading on Thursday, reaching $66.07. 4,296,425 shares of the company’s stock were exchanged, compared to its average volume of 2,370,478. Hologic has a one year low of $65.87 and a one year high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $14.91 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The firm has a fifty day moving average price of $72.91 and a two-hundred day moving average price of $77.95.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. As a group, equities research analysts forecast that Hologic will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC purchased a new stake in shares of Hologic in the 3rd quarter worth about $25,000. General Partner Inc. purchased a new stake in shares of Hologic in the 4th quarter worth about $26,000. Groupama Asset Managment grew its position in shares of Hologic by 9.9% in the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 2,999 shares during the period. Venturi Wealth Management LLC grew its position in shares of Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

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.