Stephens Cuts Hologic (NASDAQ:HOLX) Price Target to $70.00

Hologic (NASDAQ:HOLX) had its price target lowered by Stephens from $77.00 to $70.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities analysts also recently issued reports on HOLX. Citigroup decreased their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada decreased their target price on shares of Hologic from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. StockNews.com downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Leerink Partners downgraded shares of Hologic from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Finally, Leerink Partnrs downgraded shares of Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.42.

Hologic Stock Performance

Hologic stock opened at $55.74 on Tuesday. 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 $58.88 and a 200-day moving average of $67.68. The firm has a market cap of $12.42 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.14 and a beta of 0.54. Hologic has a 1-year low of $51.90 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Hologic’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts expect that Hologic will post 4.28 EPS for the current year.

Insider Activity at Hologic

In other news, Director Martin D. Madaus purchased 5,445 shares of Hologic stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $300,781.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Hologic

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group grew its position in Hologic by 14.7% in the 4th quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider’s stock worth $82,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC grew its position in Hologic by 36.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 159 shares during the period. Trivant Custom Portfolio Group LLC grew its position in Hologic by 2.1% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 8,348 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 169 shares during the period. Beverly Hills Private Wealth LLC grew its position in Hologic by 3.6% in the 1st 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 during the period. Finally, UMB Bank n.a. grew its position in Hologic by 4.1% in the 4th quarter. UMB Bank n.a. now owns 4,758 shares of the medical equipment provider’s stock worth $343,000 after purchasing an additional 188 shares during the period. 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.