Hologic (NASDAQ:HOLX) Now Covered by Wolfe Research

Equities researchers at Wolfe Research initiated coverage on shares of Hologic (NASDAQ:HOLX - Get Free Report) in a report released on Friday, MarketBeat.com reports. The brokerage set a "peer perform" rating on the medical equipment provider's stock.

Several other equities analysts also recently commented on the company. Citigroup downgraded Hologic from a "buy" rating to a "neutral" rating and lowered their price target for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Raymond James raised their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. BNP Paribas raised Hologic to a "strong-buy" rating in a research report on Tuesday. StockNews.com raised Hologic from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Evercore ISI lifted their price objective on Hologic from $78.00 to $82.00 and gave the stock an "in-line" rating in a report on Tuesday, October 1st. Six investment 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. According to data from MarketBeat.com, Hologic has an average rating of "Moderate Buy" and an average target price of $89.50.

Hologic Stock Down 1.9 %

Shares of HOLX traded down $1.44 during midday trading on Friday, reaching $73.65. 2,553,424 shares of the stock were exchanged, compared to its average volume of 1,626,827. The firm has a 50 day simple moving average of $79.45 and a 200-day simple moving average of $78.56. Hologic has a 12-month low of $70.24 and a 12-month high of $84.67. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 2.38 and a beta of 0.96. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its earnings results 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. The firm 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 company's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts forecast that Hologic will post 4.28 EPS for the current year.

Insider Buying and Selling at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the company'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 transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.75% of the company's stock.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Hologic by 11.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the medical equipment provider's stock valued at $357,000 after buying an additional 487 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Hologic by 38.8% during the second quarter. Blue Trust Inc. now owns 5,195 shares of the medical equipment provider's stock worth $405,000 after purchasing an additional 1,452 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Hologic by 13.3% in the second quarter. Pallas Capital Advisors LLC now owns 21,063 shares of the medical equipment provider's stock worth $1,636,000 after purchasing an additional 2,478 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in Hologic by 4.7% in the second quarter. Capital Investment Counsel Inc now owns 4,724 shares of the medical equipment provider's stock valued at $351,000 after purchasing an additional 210 shares during the period. Finally, Fifth Third Bancorp raised its position in Hologic by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 43,456 shares of the medical equipment provider's stock worth $3,227,000 after purchasing an additional 838 shares during the last quarter. 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.