Hologic (NASDAQ:HOLX) Earns Outperform Rating from Raymond James

Hologic (NASDAQ:HOLX)‘s stock had its “outperform” rating restated by stock analysts at Raymond James in a research report issued on Thursday,Benzinga reports. They currently have a $90.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $95.00. Raymond James’ price target suggests a potential upside of 39.36% from the company’s current price.

Several other research firms also recently weighed in on HOLX. Jefferies Financial Group initiated coverage on Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 target price for the company. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $80.00 to $75.00 in a research report on Thursday. 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, February 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Hologic in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Hologic Stock Performance

NASDAQ:HOLX opened at $64.58 on Thursday. Hologic has a fifty-two week low of $63.88 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The company has a 50 day moving average price of $72.33 and a 200 day moving average price of $77.76. The stock has a market capitalization of $14.58 billion, a P/E ratio of 19.39, a PEG ratio of 2.35 and a beta of 0.98.

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

Insider Buying and Selling

In related news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction 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 sale, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hologic

Several hedge funds have recently made changes to their positions in HOLX. FMR LLC lifted its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the last quarter. Nordea Investment Management AB increased its position in Hologic by 32.7% during the fourth quarter. Nordea Investment Management AB now owns 2,213,607 shares of the medical equipment provider’s stock worth $159,911,000 after buying an additional 544,889 shares during the period. Raymond James Financial Inc. purchased a new stake in Hologic in the fourth quarter valued at approximately $27,007,000. Swedbank AB boosted its holdings in shares of Hologic by 18.8% in the third quarter. Swedbank AB now owns 1,937,002 shares of the medical equipment provider’s stock valued at $157,788,000 after acquiring an additional 306,562 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Hologic by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 1,358,945 shares of the medical equipment provider’s stock worth $110,700,000 after acquiring an additional 238,222 shares during the last quarter. Hedge funds and other institutional investors 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.