Hologic (NASDAQ:HOLX) Price Target Raised to $78.00

Hologic (NASDAQ:HOLX) had its price objective hoisted by Evercore ISI from $76.00 to $78.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on HOLX. Needham & Company LLC reiterated a buy rating and set a $90.00 target price on shares of Hologic in a report on Tuesday. Stephens started coverage on Hologic in a report on Thursday, June 27th. They set an overweight rating and a $87.00 target price on the stock. Royal Bank of Canada increased their target price on Hologic from $81.00 to $82.00 and gave the company a sector perform rating in a report on Tuesday. Argus increased their target price on Hologic from $89.00 to $95.00 and gave the company a buy rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. increased their price target on Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $87.60.

Hologic Stock Performance

HOLX opened at $83.64 on Tuesday. The stock has a market cap of $19.43 billion, a P/E ratio of 42.67, a P/E/G ratio of 2.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.29. The stock’s 50 day simple moving average is $75.33 and its 200 day simple moving average is $75.32. Hologic has a 1-year low of $64.02 and a 1-year high of $84.15.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. Hologic’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. As a group, equities analysts anticipate that Hologic will post 4.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Several large investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV increased its holdings in Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares in the last quarter. Graypoint LLC increased its holdings in Hologic by 3.9% in the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after purchasing an additional 147 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Hologic by 2.3% during the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after acquiring an additional 165 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Hologic by 0.3% during the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock valued at $4,810,000 after acquiring an additional 172 shares in the last quarter. Finally, Lincoln National Corp grew its stake in shares of Hologic by 4.0% during the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock valued at $334,000 after acquiring an additional 178 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.