Hologic (NASDAQ:HOLX) Upgraded at Argus

Hologic (NASDAQ:HOLX) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Monday,Briefing.com Automated Import reports. The firm presently has a $80.00 price target on the medical equipment provider’s stock. Argus’ price objective points to a potential upside of 17.98% from the company’s current price.

Several other equities research analysts have also recently weighed in on HOLX. Royal Bank Of Canada upgraded Hologic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $72.00 to $87.00 in a report on Wednesday, August 6th. Raymond James Financial reiterated 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. Mizuho set a $75.00 target price on Hologic in a research note on Thursday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Hologic in a report on Tuesday, May 27th. Finally, Evercore ISI lifted their target price on shares of Hologic from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Tuesday, July 8th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Hologic Stock Down 0.4%

Shares of NASDAQ HOLX opened at $67.81 on Monday. The business has a 50-day simple moving average of $65.60 and a two-hundred day simple moving average of $62.50. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. Hologic has a 52 week low of $51.90 and a 52 week high of $84.39. The company has a market cap of $15.08 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.46 and a beta of 0.49.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $1.06 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Hologic will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hologic

Several large investors have recently modified their holdings of the stock. Chung Wu Investment Group LLC purchased a new position in Hologic in the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Hologic by 193.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 273 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Hologic during the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new stake in Hologic in the 1st quarter worth approximately $34,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of Hologic by 307.0% during the 2nd quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 436 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.