Needham & Company LLC Reiterates Buy Rating for Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $90.00 price objective on the medical equipment provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 17.59% from the company’s current price.

HOLX has been the subject of a number of other research reports. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Raymond James boosted their price target on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group upped their price objective on shares of Hologic from $78.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Evercore ISI lifted their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered shares of Hologic from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Hologic Price Performance

HOLX opened at $76.54 on Friday. The firm has a market capitalization of $17.97 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. The business’s 50-day moving average is $76.13 and its two-hundred day moving average is $73.02. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS. Research analysts anticipate that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the transaction, the director now directly owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the transaction, the director now directly owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

A number of hedge funds have recently modified their holdings of HOLX. Massmutual Trust Co. FSB ADV grew its stake in Hologic by 24.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 137 shares in the last quarter. Graypoint LLC grew its position in shares of Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after purchasing an additional 147 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in Hologic by 42.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 155 shares in the last quarter. Arizona State Retirement System boosted its stake in Hologic by 0.3% during the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after buying an additional 172 shares during the last quarter. Finally, Lincoln National Corp grew its holdings in Hologic by 4.0% in the 4th quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 178 shares in the last quarter. 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.