Hologic (NASDAQ:HOLX) Earns "Hold" Rating from Needham & Company LLC

Hologic (NASDAQ:HOLX - Get Free Report)'s stock had its "hold" rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday,Briefing.com Automated Import reports.

HOLX has been the subject of a number of other research reports. Leerink Partnrs downgraded shares of Hologic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and issued a $71.00 target price (down previously from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Royal Bank of Canada cut 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. Wall Street Zen downgraded shares of Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, William Blair reiterated an "outperform" rating on shares of Hologic in a research report on Thursday, February 6th. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $77.42.

Hologic Trading Up 14.6%

Shares of NASDAQ:HOLX traded up $7.90 during mid-day trading on Tuesday, hitting $62.18. The stock had a trading volume of 12,662,123 shares, compared to its average volume of 2,190,935. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The company has a market cap of $13.86 billion, a PE ratio of 19.72, a P/E/G ratio of 2.14 and a beta of 0.54. Hologic has a 12-month low of $51.90 and a 12-month high of $84.67. The company's 50 day moving average is $58.02 and its 200-day moving average is $66.26.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, sell-side analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Buying and Selling at Hologic

In other news, Director Martin D. Madaus bought 5,445 shares of the stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the purchase, the director now owns 5,445 shares of the company's stock, valued at approximately $300,781.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.88% of the company's stock.

Institutional Investors Weigh In On Hologic

Several large investors have recently bought and sold shares of the company. IFM Investors Pty Ltd increased its stake in Hologic by 5.8% in the first quarter. IFM Investors Pty Ltd now owns 52,969 shares of the medical equipment provider's stock valued at $3,272,000 after purchasing an additional 2,884 shares in the last quarter. Woodline Partners LP increased its stake in Hologic by 2.4% in the first quarter. Woodline Partners LP now owns 147,485 shares of the medical equipment provider's stock valued at $9,110,000 after purchasing an additional 3,413 shares in the last quarter. Empowered Funds LLC increased its stake in Hologic by 27.7% in the first quarter. Empowered Funds LLC now owns 17,494 shares of the medical equipment provider's stock valued at $1,081,000 after purchasing an additional 3,790 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Hologic during the first quarter worth $320,000. Finally, United Services Automobile Association bought a new stake in shares of Hologic during the first quarter worth $347,000. Institutional investors own 94.73% of the company's stock.

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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