Hologic (NASDAQ:HOLX) Price Target Raised to $94.00

Hologic (NASDAQ:HOLX) had its target price increased by JPMorgan Chase & Co. from $92.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.78% from the company’s previous close.

A number of other research firms have also recently issued reports on HOLX. Evercore ISI boosted their price objective on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. Stephens reaffirmed an “overweight” rating and set a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Mizuho lifted their price objective on Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.25.

Hologic Trading Up 2.1 %

Shares of HOLX stock opened at $80.49 on Tuesday. The firm has a market capitalization of $18.70 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 3.03 and a beta of 0.98. Hologic has a 1 year low of $66.93 and a 1 year high of $84.67. The firm’s fifty day simple moving average is $81.05 and its 200 day simple moving average is $78.11. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 20.11%. The company had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Hologic will post 4.36 EPS for the current year.

Institutional Trading of Hologic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after acquiring an additional 2,753,016 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Hologic by 21.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after purchasing an additional 450,190 shares during the period. Black Creek Investment Management Inc. lifted its position in Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after purchasing an additional 885,524 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Hologic by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock valued at $172,780,000 after purchasing an additional 124,739 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Hologic by 4.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider’s stock valued at $168,666,000 after purchasing an additional 87,176 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.