Hologic, Inc. (NASDAQ:HOLX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Hologic, Inc. (NASDAQ:HOLX) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $77.42.

HOLX has been the subject of several recent analyst reports. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Hologic in a report on Friday, May 2nd. Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Morgan Stanley lowered their price objective on shares of Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Finally, Evercore ISI decreased their target price on Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd.

Hologic Stock Performance

NASDAQ:HOLX opened at $56.47 on Wednesday. Hologic has a 1 year low of $51.90 and a 1 year high of $84.67. The stock has a market capitalization of $12.58 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.54. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $58.59 and a 200-day moving average of $67.07.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $1.01 billion for 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 firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Hologic will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Hologic

In related news, Director Martin D. Madaus acquired 5,445 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the acquisition, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock valued at $408,283,000 after acquiring an additional 1,692,177 shares during the period. Geode Capital Management LLC boosted its position in Hologic by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock worth $412,159,000 after purchasing an additional 144,838 shares during the last quarter. Invesco Ltd. grew its stake in shares of Hologic by 18.8% during the 1st quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider’s stock valued at $298,655,000 after purchasing an additional 764,573 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Hologic by 1.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,473,098 shares of the medical equipment provider’s stock valued at $276,303,000 after purchasing an additional 69,878 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Hologic by 81.0% in the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider’s stock worth $257,959,000 after purchasing an additional 1,602,463 shares during the period. 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.