Hologic (NASDAQ:HOLX) Shares Gap Down on Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) shares gapped down before the market opened on Tuesday after Mizuho lowered their price target on the stock from $90.00 to $87.00. The stock had previously closed at $83.72, but opened at $79.98. Mizuho currently has an outperform rating on the stock. Hologic shares last traded at $79.47, with a volume of 421,077 shares trading hands.

A number of other research analysts have also recently commented on the company. Citigroup cut Hologic from a "buy" rating to a "neutral" rating and cut their target price for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Leerink Partners cut their target price on Hologic from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Evercore ISI upped their target price on Hologic from $78.00 to $82.00 and gave the company an "in-line" rating in a research note on Tuesday, October 1st. Finally, Raymond James upped their target price on Hologic from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.25.

Institutional Trading of Hologic

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hologic by 77.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider's stock valued at $490,931,000 after purchasing an additional 2,753,016 shares during the last quarter. Swedbank AB purchased a new stake in shares of Hologic during the 1st quarter valued at $120,827,000. Black Creek Investment Management Inc. lifted its holdings in shares of 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 last quarter. Mackenzie Financial Corp raised its stake in Hologic by 1,023.3% in the 2nd quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider's stock worth $66,506,000 after acquiring an additional 815,960 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Hologic in the 2nd quarter worth $39,427,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Hologic Price Performance

The company has a market cap of $18.30 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The stock has a 50 day moving average of $81.06 and a 200-day moving average of $78.08.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.01. The company had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities analysts predict that Hologic, Inc. will post 4.09 earnings per share for the current year.

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.