Hologic, Inc. (NASDAQ:HOLX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Hologic, Inc. has received an average rating of "Hold" from 17 brokerage firms, with 10 holding, 6 buying, and 1 strong buy recommendation.
• Recent analyst updates include a price target decrease from Royal Bank of Canada from $75.00 to $70.00 and a price target increase by Citigroup from $60.00 to $80.00.
• Insider activity includes Director Martin D. Madaus purchasing 5,445 shares at an average price of $55.24, increasing his position significantly.

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $77.8333.

HOLX has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Morgan Stanley upped their price target on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Citigroup raised shares of Hologic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $60.00 to $80.00 in a report on Wednesday, July 9th. Mizuho set a $75.00 target price on shares of Hologic in a report on Thursday, July 31st. Finally, Royal Bank Of Canada raised shares of Hologic from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $72.00 to $87.00 in a report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HOLX. Chung Wu Investment Group LLC purchased a new stake in shares of Hologic in the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its position 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 valued at $27,000 after purchasing an additional 273 shares during the period. Zions Bancorporation National Association UT bought a new position in Hologic during the first quarter worth $34,000. Cromwell Holdings LLC increased its position in Hologic by 307.0% during the second quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 436 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Hologic during the first quarter worth $42,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Stock Performance

Shares of HOLX stock traded up $0.79 during mid-day trading on Monday, hitting $67.68. The stock had a trading volume of 539,302 shares, compared to its average volume of 2,837,641. Hologic has a fifty-two week low of $51.90 and a fifty-two week high of $84.67. The firm has a market cap of $15.05 billion, a PE ratio of 28.09, a PEG ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81. The company's 50-day simple moving average is $64.87 and its 200-day simple moving average is $62.77.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.03. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. Sell-side analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

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.