Hologic (NASDAQ:HOLX) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a report published on Monday.

Several other equities analysts have also commented on HOLX. Raymond James restated an “outperform” rating and set a $71.00 price target (down previously from $90.00) on shares of Hologic in a research note on Friday. Citigroup lowered their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Hologic in a report on Thursday, February 6th. Argus lowered Hologic from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Evercore ISI cut their price target on Hologic from $65.00 to $62.00 and set an “in-line” rating on the stock in a report on Friday. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Hologic currently has an average rating of “Hold” and a consensus target price of $79.85.

Hologic Trading Down 2.6 %

HOLX opened at $52.73 on Monday. The stock’s 50 day moving average price is $60.05 and its 200-day moving average price is $68.89. Hologic has a one year low of $52.12 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.14 and a beta of 0.54.

Hologic (NASDAQ:HOLX) last issued its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that Hologic will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the period. Allworth Financial LP boosted its holdings in Hologic by 46.0% in the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 216 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 260 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 159 shares during the last quarter. Finally, Smithfield Trust Co raised its stake in shares of Hologic by 160.0% during the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 400 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.