Leerink Partners Downgrades Hologic (NASDAQ:HOLX) to Market Perform

Leerink Partners downgraded shares of Hologic (NASDAQ:HOLX) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat Ratings reports. Leerink Partners currently has $75.00 price target on the medical equipment provider’s stock, down from their prior price target of $80.00.

Several other research analysts have also recently issued reports on the company. BNP Paribas upgraded Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Raymond James raised their target price on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Needham & Company LLC lowered Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Monday. Morgan Stanley cut their target price on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of Hologic in a research note on Tuesday, December 10th. They issued a “hold” rating and a $85.00 target price for the company. Nine research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Hologic Stock Down 10.1 %

NASDAQ:HOLX opened at $65.45 on Thursday. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. Hologic has a twelve month low of $64.87 and a twelve month high of $84.67. The company has a market cap of $14.77 billion, a PE ratio of 19.65, a P/E/G ratio of 2.35 and a beta of 0.97. The company’s 50 day moving average is $72.63 and its two-hundred day moving average is $77.86.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share 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%. Analysts anticipate that Hologic will post 4.28 EPS for the current year.

Insider Transactions at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 approximately $2,134,237.38. The trade was a 47.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several hedge funds and other institutional investors have recently made changes to their positions in HOLX. Prentiss Smith & Co. Inc. raised its stake in Hologic by 0.3% in the 3rd quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock valued at $3,967,000 after purchasing an additional 130 shares during the last quarter. Covestor Ltd grew its holdings in shares of Hologic by 23.8% during the third quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 133 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Hologic by 38.3% during the third 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 in the last quarter. Brooklyn Investment Group raised its position in shares of Hologic by 14.7% in the fourth quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 145 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Hologic by 1.8% in the third quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock worth $690,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Company Profile

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.