Evercore ISI Cuts Hologic (NASDAQ:HOLX) Price Target to $73.00

Hologic (NASDAQ:HOLX) had its price objective decreased by investment analysts at Evercore ISI from $76.00 to $73.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target points to a potential upside of 10.24% from the stock’s current price.

A number of other analysts have also commented on HOLX. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Monday, January 13th. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Monday. Morgan Stanley dropped their price objective on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho decreased their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Leerink Partners lowered Hologic from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $80.00 to $75.00 in a research note on Thursday. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hologic presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Hologic Price Performance

Shares of NASDAQ:HOLX traded down $6.58 during trading on Thursday, hitting $66.22. 2,380,835 shares of the stock were exchanged, compared to its average volume of 2,282,609. The company has a market cap of $14.95 billion, a PE ratio of 19.91, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $72.91 and a two-hundred day moving average price of $77.95. Hologic has a 12-month low of $65.87 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. On average, analysts forecast that Hologic will post 4.28 EPS for the current year.

Insider Activity at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several hedge funds have recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new stake in shares of Hologic during the third quarter valued at $25,000. General Partner Inc. purchased a new position in Hologic during the 4th quarter worth approximately $26,000. Groupama Asset Managment lifted its holdings in shares of Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 2,999 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Hologic by 156.3% in the fourth 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. Finally, First Horizon Advisors Inc. increased its holdings in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 134 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.