Hologic (NASDAQ:HOLX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Hologic (NASDAQ:HOLX - Free Report) from a hold rating to a buy rating in a report published on Thursday.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Hologic from $92.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Stephens reiterated an "overweight" rating and issued a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. Leerink Partners cut their target price on Hologic from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, October 8th. Finally, Citigroup lowered shares of Hologic from a "buy" rating to a "neutral" rating and decreased their price target for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.91.

Hologic Price Performance

Shares of HOLX stock traded down $1.64 during trading on Thursday, hitting $77.54. The company had a trading volume of 1,657,173 shares, compared to its average volume of 1,592,855. The stock's 50-day moving average price is $80.77 and its 200 day moving average price is $78.22. The firm has a market capitalization of $18.01 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. Hologic has a one year low of $67.59 and a one year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $987.90 million during the quarter, compared to analysts' expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. Equities analysts expect that Hologic will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

A number of hedge funds have recently bought and sold shares of HOLX. Empowered Funds LLC purchased a new position in Hologic in the 1st quarter worth approximately $234,000. Bleakley Financial Group LLC raised its stake in Hologic by 18.3% during the first quarter. Bleakley Financial Group LLC now owns 5,412 shares of the medical equipment provider's stock valued at $422,000 after purchasing an additional 836 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Hologic by 2.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 291,729 shares of the medical equipment provider's stock valued at $23,543,000 after purchasing an additional 6,198 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Hologic by 15.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,181 shares of the medical equipment provider's stock worth $21,687,000 after buying an additional 36,898 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Hologic by 2.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 65,407 shares of the medical equipment provider's stock worth $5,099,000 after buying an additional 1,785 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.