Hologic (NASDAQ:HOLX) Price Target Raised to $89.00

Hologic (NASDAQ:HOLX - Get Free Report) had its target price increased by investment analysts at Royal Bank of Canada from $86.00 to $89.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "sector perform" rating on the medical equipment provider's stock. Royal Bank of Canada's target price would indicate a potential upside of 12.94% from the company's current price.

HOLX has been the subject of a number of other research reports. Citigroup downgraded shares of Hologic from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $95.00 to $85.00 in a research note on Tuesday, October 1st. Mizuho raised their price target on Hologic from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price target on shares of Hologic from $92.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore ISI boosted their price target on Hologic from $78.00 to $82.00 and gave the company an "in-line" rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.25.

Hologic Price Performance

HOLX traded down $4.92 during trading on Tuesday, reaching $78.80. The company's stock had a trading volume of 3,424,631 shares, compared to its average volume of 1,591,096. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.98 and a beta of 0.98. The firm has a fifty day simple moving average of $81.06 and a two-hundred day simple moving average of $78.08. Hologic has a 1 year low of $66.93 and a 1 year high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm had revenue of $987.90 million for the quarter, compared to analysts' expectations of $978.25 million. During the same quarter in the previous year, the company posted $0.89 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Hologic will post 4.09 EPS for the current year.

Institutional Investors Weigh In On Hologic

Several institutional investors have recently modified their holdings of HOLX. Price T Rowe Associates Inc. MD lifted its stake in Hologic by 77.7% in 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 buying an additional 2,753,016 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Hologic by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider's stock worth $188,243,000 after purchasing an additional 450,190 shares in the last quarter. Black Creek Investment Management Inc. raised 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 buying an additional 885,524 shares during the period. Dimensional Fund Advisors LP lifted its position in Hologic by 5.7% during 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 in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Hologic by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider's stock valued at $168,666,000 after acquiring an additional 87,176 shares in the last quarter. Hedge funds and other institutional investors 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.