Hologic (NASDAQ:HOLX) Given Buy Rating at Needham & Company LLC

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $90.00 price target on the medical equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 8.83% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Evercore ISI raised their price objective on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Stephens reissued an “overweight” rating and issued a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. StockNews.com upgraded Hologic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Hologic Trading Up 1.9 %

Shares of HOLX stock opened at $82.70 on Tuesday. The company has a market capitalization of $19.30 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $80.36 and its two-hundred day moving average is $76.92. Hologic has a twelve month low of $64.02 and a twelve month high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. Hologic’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. Equities analysts forecast that Hologic will post 4.09 EPS for the current year.

Insider Activity

In related news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock worth $1,469,973 over the last ninety days. 1.75% of the stock is currently owned by insiders.

Institutional Trading of Hologic

Several hedge funds and other institutional investors have recently bought and sold shares of HOLX. Sanctuary Advisors LLC purchased a new stake in shares of Hologic in the second quarter valued at $1,212,000. Quarry LP grew its holdings in Hologic by 323.7% in the 2nd quarter. Quarry LP now owns 1,809 shares of the medical equipment provider’s stock valued at $134,000 after buying an additional 1,382 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Hologic during the 2nd quarter valued at about $37,000. Creative Planning lifted its holdings in shares of Hologic by 2.4% during the 2nd quarter. Creative Planning now owns 21,813 shares of the medical equipment provider’s stock worth $1,620,000 after acquiring an additional 503 shares during the period. Finally, Select Equity Group L.P. boosted its position in shares of Hologic by 87.6% in the second quarter. Select Equity Group L.P. now owns 338,020 shares of the medical equipment provider’s stock worth $25,098,000 after acquiring an additional 157,835 shares during the last quarter. 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.