Citigroup Upgrades Hologic (NASDAQ:HOLX) to Buy

Hologic (NASDAQ:HOLX - Get Free Report) was upgraded by equities researchers at Citigroup from a "neutral" rating to a "buy" rating in a report released on Wednesday, MarketBeat reports. The brokerage presently has a $80.00 price objective on the medical equipment provider's stock, up from their prior price objective of $60.00. Citigroup's price objective would indicate a potential upside of 23.27% from the company's previous close.

Several other equities analysts have also commented on the company. Stephens reduced their price target on Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen lowered Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Royal Bank Of Canada reduced their price target on Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Finally, Evercore ISI boosted their price target on Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Hologic currently has a consensus rating of "Hold" and a consensus price target of $78.75.

Hologic Stock Performance

NASDAQ HOLX opened at $64.90 on Wednesday. The firm has a market capitalization of $14.46 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.36 and a beta of 0.55. Hologic has a 1-year low of $51.90 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 2.52. The business's 50-day simple moving average is $60.97 and its 200-day simple moving average is $63.61.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The company's revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Equities analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Activity

In other news, Director Martin D. Madaus purchased 5,445 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the acquisition, the director owned 5,445 shares of the company's stock, valued at $300,781.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hologic

Several institutional investors and hedge funds have recently made changes to their positions in HOLX. Zions Bancorporation National Association UT acquired a new stake in shares of Hologic during the 1st quarter valued at approximately $34,000. Allworth Financial LP raised its position in shares of Hologic by 46.0% during the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock valued at $40,000 after acquiring an additional 216 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 260 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Hologic during the 1st quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider's stock valued at $43,000 after acquiring an additional 159 shares in the last quarter. 94.73% of the stock is 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.

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