Mizuho Raises Hologic (NASDAQ:HOLX) Price Target to $70.00

Hologic (NASDAQ:HOLX) had its price objective upped by investment analysts at Mizuho from $65.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s target price points to a potential upside of 9.34% from the stock’s current price.

A number of other research analysts have also recently issued reports on HOLX. Morgan Stanley reduced their price objective on shares of Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Wall Street Zen lowered Hologic from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Royal Bank Of Canada dropped their target price on Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Stephens decreased their price target on Hologic from $77.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Raymond James Financial restated an “outperform” rating and set a $71.00 price objective (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.33.

Hologic Trading Up 0.3%

NASDAQ:HOLX opened at $64.02 on Wednesday. Hologic has a 52 week low of $51.90 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24. The firm’s fifty day moving average is $62.31 and its 200-day moving average is $63.30. The firm has a market cap of $14.27 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.34 and a beta of 0.55.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Martin D. Madaus bought 5,445 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought 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 owned 5,445 shares of the company’s stock, valued at $300,781.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOLX. Norges Bank purchased a new position in shares of Hologic in the fourth quarter valued at about $133,414,000. Victory Capital Management Inc. raised 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 purchasing an additional 1,692,177 shares during the period. Boston Partners lifted its holdings in 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 in the last quarter. Champlain Investment Partners LLC bought a new position in Hologic in the 4th quarter worth approximately $79,291,000. Finally, Nuance Investments LLC boosted its stake in Hologic by 623.7% in the 1st quarter. Nuance Investments LLC now owns 1,081,333 shares of the medical equipment provider’s stock worth $66,794,000 after purchasing an additional 931,920 shares during the period. 94.73% of the stock is 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.