Hologic (NASDAQ:HOLX) Lowered to Market Perform Rating by Leerink Partners

Leerink Partners lowered shares of Hologic (NASDAQ:HOLX - Free Report) from an outperform rating to a market perform rating in a report released on Thursday morning, Marketbeat reports. Leerink Partners currently has $75.00 target price on the medical equipment provider's stock, down from their previous target price of $80.00.

HOLX has been the subject of several other reports. UBS Group increased their price objective on Hologic from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Wolfe Research began coverage on Hologic in a research report on Friday, December 13th. They issued a "peer perform" rating for the company. Morgan Stanley cut their price objective on shares of Hologic from $84.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Needham & Company LLC downgraded shares of Hologic from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a report on Monday, February 3rd. Finally, Raymond James boosted their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Ten 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Hologic Stock Down 1.3 %

Shares of HOLX traded down $0.87 during trading hours on Thursday, reaching $64.58. The stock had a trading volume of 3,846,270 shares, compared to its average volume of 2,558,621. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.14 and a beta of 0.97. The firm has a 50-day simple moving average of $72.33 and a 200 day simple moving average of $77.76. The company has a current ratio of 3.49, a quick ratio of 3.03 and a debt-to-equity ratio of 0.52. Hologic has a 12 month low of $63.88 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Equities research analysts predict that Hologic will post 4.27 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Hologic by 0.8% in the third quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider's stock valued at $847,944,000 after purchasing an additional 81,057 shares in the last quarter. FMR LLC lifted its holdings in Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider's stock worth $453,940,000 after purchasing an additional 2,174,093 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Hologic by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider's stock worth $354,506,000 after purchasing an additional 24,358 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Hologic by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider's stock valued at $208,051,000 after buying an additional 18,774 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Hologic by 8.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider's stock valued at $200,952,000 after buying an additional 195,285 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.