Hologic, Inc. (NASDAQ:HOLX) Receives $88.92 Consensus Target Price from Analysts

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.92.

HOLX has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of Hologic from $86.00 to $89.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. Morgan Stanley reduced their price objective on Hologic from $84.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 target price on shares of Hologic in a report on Monday. Leerink Partners cut their price target on Hologic from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Finally, Raymond James lifted their price objective on Hologic from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th.

Hologic Trading Up 1.8 %

Shares of NASDAQ HOLX traded up $1.22 during midday trading on Thursday, hitting $69.97. The company's stock had a trading volume of 3,067,921 shares, compared to its average volume of 2,461,612. Hologic has a 12-month low of $68.61 and a 12-month high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The firm has a market cap of $15.88 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 2.44 and a beta of 0.97. The business's 50 day moving average is $75.21 and its two-hundred day moving average is $78.43.

Hologic (NASDAQ:HOLX - Get Free Report) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. As a group, equities research analysts expect that Hologic will post 4.28 EPS for the current year.

Insider Buying and Selling at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Hologic

Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its position in Hologic by 2.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,275 shares of the medical equipment provider's stock worth $1,505,000 after purchasing an additional 500 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Hologic during the second quarter valued at $246,000. Envestnet Asset Management Inc. increased its position in shares of Hologic by 3.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 361,271 shares of the medical equipment provider's stock valued at $26,824,000 after acquiring an additional 12,671 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 worth $172,780,000 after acquiring an additional 124,739 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Hologic during the 2nd quarter worth about $1,696,000. 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.