Hologic (NASDAQ:HOLX) Price Target Lowered to $85.00 at Royal Bank of Canada

Hologic (NASDAQ:HOLX) had its target price dropped by Royal Bank of Canada from $88.00 to $85.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 28.07% from the stock’s current price.

HOLX has been the subject of several other reports. Stephens reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Hologic in a report on Thursday. BNP Paribas raised shares of Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Hologic in a report on Thursday. Morgan Stanley dropped their price target on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Needham & Company LLC lowered shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.15.

Hologic Trading Down 8.8 %

Shares of HOLX traded down $6.43 during trading hours on Thursday, reaching $66.37. 3,929,729 shares of the company traded hands, compared to its average volume of 2,354,069. The company’s fifty day moving average price is $72.91 and its two-hundred day moving average price is $77.95. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. Hologic has a 12 month low of $65.87 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. Equities research analysts predict that Hologic will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Benson Investment Management Company Inc. purchased a new stake in Hologic during the fourth quarter worth about $4,832,000. Clean Yield Group raised its stake in shares of Hologic by 18.9% during the fourth quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock worth $3,291,000 after purchasing an additional 7,266 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Hologic by 17.9% in the third quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 582 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Hologic by 2.9% during the third quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider’s stock valued at $2,344,000 after acquiring an additional 800 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Hologic during the third quarter valued at $1,677,000. Institutional investors and hedge funds 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.