Hologic (NASDAQ:HOLX) Rating Increased to Buy at Argus

Argus upgraded shares of Hologic (NASDAQ:HOLX) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Argus currently has $80.00 price objective on the medical equipment provider’s stock.

A number of other analysts have also commented on the company. Wall Street Zen lowered Hologic from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Stephens cut their price objective on Hologic from $77.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $80.00 in a report on Wednesday, July 9th. Finally, UBS Group lifted their price objective on Hologic from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Hologic Stock Down 0.8%

Hologic stock opened at $67.27 on Monday. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.46 and a beta of 0.49. The stock has a fifty day simple moving average of $65.65 and a two-hundred day simple moving average of $62.47. Hologic has a 12 month low of $51.90 and a 12 month high of $84.39. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Equities analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Institutional Trading of Hologic

Several institutional investors have recently made changes to their positions in the business. Capital Investment Counsel Inc grew its position in shares of Hologic by 2.6% during the second quarter. Capital Investment Counsel Inc now owns 5,814 shares of the medical equipment provider’s stock worth $379,000 after purchasing an additional 150 shares in the last quarter. Greenleaf Trust grew its position in shares of Hologic by 5.1% during the second quarter. Greenleaf Trust now owns 3,579 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 173 shares in the last quarter. Beverly Hills Private Wealth LLC grew its position in shares of Hologic by 3.6% during the first quarter. Beverly Hills Private Wealth LLC now owns 5,173 shares of the medical equipment provider’s stock worth $320,000 after purchasing an additional 180 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Hologic by 1.4% during the second quarter. Schroder Investment Management Group now owns 15,758 shares of the medical equipment provider’s stock worth $1,027,000 after purchasing an additional 210 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.