Citigroup Issues Pessimistic Forecast for Hologic (NASDAQ:HOLX) Stock Price

Hologic (NASDAQ:HOLX) had its target price lowered by research analysts at Citigroup from $80.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s target price indicates a potential upside of 11.67% from the company’s previous close.

Several other analysts have also issued reports on HOLX. Mizuho dropped their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC downgraded shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Finally, Argus downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.62.

Hologic Stock Down 0.9 %

HOLX traded down $0.59 during trading on Tuesday, hitting $62.68. The company had a trading volume of 561,989 shares, compared to its average volume of 2,322,760. The firm’s 50-day moving average price is $68.98 and its 200 day moving average price is $75.78. Hologic has a one year low of $62.63 and a one year high of $84.67. The company has a market capitalization of $14.07 billion, a PE ratio of 19.77, a PEG ratio of 2.14 and a beta of 0.97. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. As a group, equities analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insider Activity at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by insiders.

Institutional Trading of Hologic

Several large investors have recently made changes to their positions in the company. General Partner Inc. bought a new stake in Hologic during the fourth quarter worth $26,000. Venturi Wealth Management LLC lifted its position in shares of Hologic by 156.3% during 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 last quarter. First Horizon Advisors Inc. boosted its stake in Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 134 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 260 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Hologic by 36.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 159 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.