Hologic (NASDAQ:HOLX) Downgraded by StockNews.com

StockNews.com lowered shares of Hologic (NASDAQ:HOLX) from a strong-buy rating to a buy rating in a report released on Friday morning.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a buy rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, September 17th. Evercore ISI raised their target price on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Tuesday, July 30th. Stephens reiterated an overweight rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Hologic currently has a consensus rating of Moderate Buy and an average target price of $87.60.

Hologic Stock Performance

NASDAQ:HOLX opened at $81.46 on Friday. The company has a market capitalization of $19.01 billion, a P/E ratio of 41.56, a P/E/G ratio of 2.58 and a beta of 0.98. The business has a fifty day simple moving average of $81.14 and a two-hundred day simple moving average of $77.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic has a 1 year low of $64.02 and a 1 year high of $84.67.

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

Insider Buying and Selling

In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hologic news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the transaction, the insider now directly owns 10,476 shares in the company, valued at $858,927.24. The disclosure for this sale can be found here. Insiders sold 18,280 shares of company stock worth $1,469,973 in the last quarter. 1.75% of the stock is owned by insiders.

Institutional Trading of Hologic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 137 shares during the period. Graypoint LLC raised its stake in shares of Hologic by 3.9% during the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Hologic by 2.3% during the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock worth $536,000 after purchasing an additional 165 shares during the period. Parallel Advisors LLC grew its stake in shares of Hologic by 11.5% in the fourth quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock worth $131,000 after purchasing an additional 189 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Hologic by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,112 shares of the medical equipment provider’s stock valued at $2,425,000 after purchasing an additional 192 shares during the period. 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.