Hologic (NASDAQ:HOLX) Stock Rating Upgraded by BNP Paribas

Hologic (NASDAQ:HOLX - Get Free Report) was upgraded by BNP Paribas to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Hologic from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Leerink Partners decreased their price target on Hologic from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 8th. Jefferies Financial Group began coverage on Hologic in a research report on Tuesday. They issued a "hold" rating and a $85.00 price objective for the company. Raymond James boosted their price objective on Hologic from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Finally, Evercore ISI raised 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. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

Hologic Price Performance

HOLX stock traded up $0.03 during trading on Tuesday, hitting $75.56. The company had a trading volume of 1,141,753 shares, compared to its average volume of 1,615,698. The company has a fifty day moving average price of $79.53 and a two-hundred day moving average price of $78.58. Hologic has a fifty-two week low of $69.36 and a fifty-two week high of $84.67. The company has a market cap of $17.15 billion, a P/E ratio of 22.76, a P/E/G ratio of 2.37 and a beta of 0.96. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

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

Insiders Place Their Bets

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm'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 value of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares of the company's stock, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.75% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOLX. Wolff Wiese Magana LLC bought a new stake in Hologic in the third quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Hologic in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. increased its stake in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Hologic in the 2nd quarter valued at approximately $37,000. Finally, Cromwell Holdings LLC boosted its stake in Hologic by 330.2% during the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider's stock worth $44,000 after acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Company Profile

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.