Wall Street Zen Upgrades Hologic (NASDAQ:HOLX) to Buy

Key Points

• Hologic has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the company's stock.
• Analysts have set varying target prices for Hologic's stock, with Royal Bank of Canada projecting a target of $87.00 after upgrading its rating to "outperform."
• The company reported earnings of $1.08 per share for the last quarter, surpassing estimates and demonstrating a 1.2% increase in year-over-year revenue.

Wall Street Zen upgraded shares of Hologic (NASDAQ:HOLX - Free Report) from a hold rating to a buy rating in a report published on Sunday morning.

A number of other analysts have also recently weighed in on HOLX. Argus raised Hologic from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, August 18th. Morgan Stanley increased their price target on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised shares of Hologic from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $72.00 to $87.00 in a research note on Wednesday, August 6th. UBS Group upped their price target on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Hologic presently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Hologic Stock Performance

Shares of HOLX stock traded up $0.18 on Friday, hitting $66.72. The company had a trading volume of 1,186,914 shares, compared to its average volume of 1,570,787. The company has a 50-day moving average price of $66.40 and a 200-day moving average price of $62.63. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. Hologic has a twelve month low of $51.90 and a twelve month high of $84.39. The firm has a market cap of $14.84 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.42 and a beta of 0.57.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%.Hologic's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Hologic has set its Q4 2025 guidance at 1.090-1.120 EPS. FY 2025 guidance at 4.230-4.260 EPS. As a group, equities research analysts predict that Hologic will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hologic

Several hedge funds have recently made changes to their positions in HOLX. The Manufacturers Life Insurance Company raised its holdings in Hologic by 294.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider's stock worth $718,223,000 after buying an additional 8,227,318 shares during the period. Invesco Ltd. raised its position in Hologic by 72.5% during the second quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider's stock valued at $543,486,000 after buying an additional 3,505,828 shares during the period. Norges Bank acquired a new position in Hologic during the second quarter valued at $180,055,000. Victory Capital Management Inc. raised its position in Hologic by 34.4% during the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after buying an additional 1,692,177 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Hologic by 473.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider's stock valued at $111,180,000 after buying an additional 1,405,085 shares during the period. Institutional investors and hedge funds 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.