Hologic (NASDAQ:HOLX) Shares Gap Down Following Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s share price gapped down before the market opened on Tuesday after Mizuho lowered their price target on the stock from $90.00 to $87.00. The stock had previously closed at $83.72, but opened at $79.98. Mizuho currently has an outperform rating on the stock. Hologic shares last traded at $79.47, with a volume of 421,077 shares changing hands.

A number of other equities research analysts have also weighed in on HOLX. Stephens reiterated an “overweight” rating and set a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Evercore ISI boosted their price target on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. StockNews.com downgraded shares of Hologic from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Raymond James increased their price objective on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Leerink Partners lowered their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOLX. GSA Capital Partners LLP lifted its position in shares of Hologic by 22.2% during the 3rd quarter. GSA Capital Partners LLP now owns 5,762 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 1,048 shares during the period. Entropy Technologies LP bought a new stake in shares of Hologic during the third quarter worth $1,025,000. Versor Investments LP bought a new stake in shares of Hologic during the third quarter worth $1,677,000. Crossmark Global Holdings Inc. grew its stake in shares of Hologic by 2.2% during the third quarter. Crossmark Global Holdings Inc. now owns 18,101 shares of the medical equipment provider’s stock worth $1,474,000 after purchasing an additional 393 shares during the period. Finally, Covestor Ltd grew its stake in shares of Hologic by 23.8% during the third quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Trading Down 5.9 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.98 and a beta of 0.98. The business has a 50 day moving average of $81.06 and a 200 day moving average of $78.08.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS 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 19.53% and a net margin of 17.59%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, research analysts predict that Hologic, Inc. will post 4.09 earnings per share for the current fiscal year.

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.