Hologic (NASDAQ:HOLX) Price Target Cut to $78.00

Hologic (NASDAQ:HOLX) had its target price reduced by UBS Group from $91.00 to $78.00 in a report issued on Thursday, Benzinga reports. UBS Group currently has a neutral rating on the medical equipment provider’s stock.

HOLX has been the topic of a number of other research reports. Raymond James decreased their price objective on Hologic from $95.00 to $85.00 and set an outperform rating on the stock in a report on Wednesday, October 18th. Citigroup lowered their price target on shares of Hologic from $90.00 to $85.00 and set a neutral rating on the stock in a research report on Tuesday, August 1st. StockNews.com assumed coverage on shares of Hologic in a research note on Thursday, October 5th. They set a buy rating for the company. Bank of America decreased their target price on shares of Hologic from $94.00 to $86.00 and set a neutral rating on the stock in a research note on Tuesday, August 1st. Finally, Morgan Stanley dropped their price target on Hologic from $86.00 to $82.00 and set an equal weight rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $86.58.

Hologic Stock Performance

HOLX opened at $72.63 on Thursday. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.34 and a beta of 1.03. The firm’s fifty day simple moving average is $69.45 and its two-hundred day simple moving average is $75.62. The company has a quick ratio of 2.95, a current ratio of 3.47 and a debt-to-equity ratio of 0.50. Hologic has a 52-week low of $64.02 and a 52-week high of $87.88.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, November 9th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. Hologic had a return on equity of 19.12% and a net margin of 11.31%. The company had revenue of $945.30 million for the quarter, compared to analysts’ expectations of $940.00 million. During the same period in the previous year, the firm posted $0.82 EPS. Hologic’s revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Hologic will post 3.99 earnings per share for the current fiscal year.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Hologic by 98,061.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 22,086,241 shares of the medical equipment provider’s stock worth $1,788,323,000 after buying an additional 22,063,741 shares during the period. Macquarie Group Ltd. boosted its position in shares of Hologic by 227.2% during the 2nd quarter. Macquarie Group Ltd. now owns 6,284,053 shares of the medical equipment provider’s stock worth $435,485,000 after purchasing an additional 4,363,687 shares during the period. Wellington Management Group LLP raised its position in Hologic by 80.0% in the first quarter. Wellington Management Group LLP now owns 8,984,757 shares of the medical equipment provider’s stock valued at $725,070,000 after purchasing an additional 3,992,822 shares during the period. Norges Bank purchased a new position in shares of Hologic during the fourth quarter worth $175,900,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Hologic by 506.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,711,592 shares of the medical equipment provider’s stock worth $29,345,000 after buying an additional 1,429,300 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

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 in the United States, Europe, the Asia-Pacific, and internationally. It operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.