Hologic (NASDAQ:HOLX) Upgraded by Citigroup to Buy Rating

Hologic (NASDAQ:HOLX - Get Free Report) was upgraded by equities researchers at Citigroup from a "neutral" rating to a "buy" rating in a research note issued on Wednesday, Marketbeat reports. The brokerage currently has a $80.00 price target on the medical equipment provider's stock, up from their prior price target of $60.00. Citigroup's price objective would indicate a potential upside of 21.73% from the company's current price.

Several other research analysts have also weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Hologic in a report on Tuesday, May 27th. Evercore ISI increased their price objective on shares of Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a report on Tuesday. Morgan Stanley cut their price objective on shares of Hologic from $77.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, Royal Bank Of Canada dropped 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 report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Hologic presently has a consensus rating of "Hold" and an average target price of $78.75.

Hologic Price Performance

NASDAQ HOLX traded down $1.13 during trading hours on Wednesday, reaching $65.72. The company's stock had a trading volume of 1,776,763 shares, compared to its average volume of 2,391,464. The stock has a market cap of $14.65 billion, a PE ratio of 27.73, a PEG ratio of 2.41 and a beta of 0.55. Hologic has a fifty-two week low of $51.90 and a fifty-two week high of $84.67. The company's 50-day moving average is $61.55 and its two-hundred day moving average is $63.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The firm's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Analysts forecast that Hologic will post 4.28 EPS for the current year.

Insider Transactions at Hologic

In other news, Director Martin D. Madaus acquired 5,445 shares of the stock in a transaction 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.

Institutional Trading of Hologic

Several large investors have recently bought and sold shares of HOLX. Farther Finance Advisors LLC boosted its stake in shares of Hologic by 22.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,835 shares of the medical equipment provider's stock valued at $113,000 after buying an additional 335 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Hologic by 116.6% during the 1st quarter. SG Americas Securities LLC now owns 9,609 shares of the medical equipment provider's stock valued at $594,000 after buying an additional 5,172 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Hologic by 63.4% during the 4th quarter. Groupama Asset Managment now owns 54,214 shares of the medical equipment provider's stock valued at $3,918,000 after buying an additional 21,037 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Hologic during the 4th quarter valued at approximately $4,215,000. Finally, Signaturefd LLC boosted its stake in shares of Hologic by 34.5% during the 4th quarter. Signaturefd LLC now owns 2,940 shares of the medical equipment provider's stock valued at $212,000 after buying an additional 754 shares during the last quarter. Institutional investors and hedge funds 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.