Hologic (NASDAQ:HOLX) Price Target Raised to $70.00 at UBS Group

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Hologic (NASDAQ:HOLX - Get Free Report) had its target price increased by research analysts at UBS Group from $65.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the medical equipment provider's stock. UBS Group's price objective points to a potential upside of 5.32% from the company's current price.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Citigroup upgraded Hologic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $60.00 to $80.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada dropped their price objective on Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley dropped their price objective on Hologic from $77.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Finally, Raymond James Financial restated an "outperform" rating and set a $71.00 price objective (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Eleven 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 data from MarketBeat, Hologic has a consensus rating of "Hold" and an average target price of $76.08.

Hologic Trading Up 2.3%

Shares of Hologic stock traded up $1.48 on Thursday, reaching $66.46. 905,606 shares of the company's stock were exchanged, compared to its average volume of 2,872,577. The company has a market capitalization of $14.81 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.55. Hologic has a 52 week low of $51.90 and a 52 week high of $84.67. The firm's 50-day moving average is $63.91 and its two-hundred day moving average is $62.86. 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 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. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the business earned $1.06 EPS. Hologic's quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Martin D. Madaus acquired 5,445 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director owned 5,445 shares in the company, valued at $300,781.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.88% of the company's stock.

Institutional Investors Weigh In On Hologic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chung Wu Investment Group LLC bought a new stake in shares of Hologic during the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Hologic by 193.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 273 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Hologic during the first quarter worth about $34,000. Cromwell Holdings LLC grew its holdings in shares of 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 purchasing an additional 436 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock worth $40,000 after purchasing an additional 216 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.