Hologic's (HOLX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Hologic (NASDAQ:HOLX - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $90.00 price objective on the medical equipment provider's stock.

Several other brokerages have also recently issued reports on HOLX. Evercore ISI upped their target price on Hologic from $78.00 to $82.00 and gave the company an "in-line" rating in a report on Tuesday, October 1st. UBS Group increased their price target on Hologic from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. StockNews.com raised Hologic from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Leerink Partners reduced their price target on shares of Hologic from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted 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, November 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Hologic presently has a consensus rating of "Moderate Buy" and an average target price of $88.92.

Hologic Price Performance

HOLX stock traded down $1.41 during trading on Monday, hitting $70.29. The stock had a trading volume of 3,066,399 shares, compared to its average volume of 2,133,770. The company's 50-day moving average price is $75.88 and its two-hundred day moving average price is $78.55. Hologic has a twelve month low of $69.46 and a twelve month high of $84.67. The stock has a market capitalization of $15.95 billion, a P/E ratio of 21.11, a PEG ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03.

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

Insider Buying and Selling

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now owns 27,957 shares in the company, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hologic

Hedge funds have recently modified their holdings of the business. Wolff Wiese Magana LLC bought a new stake in shares of Hologic in the 3rd quarter valued at about $25,000. General Partner Inc. acquired a new stake in shares of Hologic during the 4th quarter worth approximately $26,000. Groupama Asset Managment grew its position in Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 2,999 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Hologic during the 2nd quarter valued at $37,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock valued at $39,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds 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.