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

StockNews.com cut shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

HOLX has been the topic of a number of other research reports. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $85.00 in a report on Tuesday, October 1st. Royal Bank of Canada upped their price target on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday. UBS Group upped their price target on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their target price on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Hologic Stock Performance

NASDAQ HOLX traded up $1.69 on Wednesday, hitting $80.49. 2,464,389 shares of the company’s stock were exchanged, compared to its average volume of 1,425,278. 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’s 50-day moving average price is $81.05 and its two-hundred day moving average price is $78.12. Hologic has a fifty-two week low of $66.93 and a fifty-two week high of $84.67. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 3.03 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a return on equity of 20.11% and a net margin of 19.59%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, research analysts expect that Hologic will post 4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOLX. Innealta Capital LLC purchased a new position in shares of Hologic during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC purchased a new position in shares of Hologic during the 3rd quarter worth $25,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic during the 1st quarter worth $37,000. Sunbelt Securities Inc. purchased a new position in shares of Hologic in the 2nd quarter worth $37,000. Finally, Cromwell Holdings LLC raised its position in shares of Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 416 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.