Morgan Stanley Forecasts Strong Price Appreciation for Hologic (NASDAQ:HOLX) Stock

Key Points

• Morgan Stanley has raised its target price for Hologic's stock from $65.00 to $69.00, indicating a potential upside of 3.08% from its current price and maintains an "equal weight" rating.
• Hologic's recent financial results showed an earnings per share (EPS) of $1.08, surpassing analysts' expectations and representing a 1.2% year-over-year revenue increase.
• Institutional investors hold a significant portion of Hologic's stock, with 94.73% ownership, reflecting strong confidence in the company's market position.

Hologic (NASDAQ:HOLX - Get Free Report) had its target price increased by equities researchers at Morgan Stanley from $65.00 to $69.00 in a report released on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the medical equipment provider's stock. Morgan Stanley's price objective would indicate a potential upside of 3.08% from the company's current price.

A number of other brokerages also recently issued reports on HOLX. Royal Bank Of Canada lowered their price target on Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Raymond James Financial restated 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. Stephens decreased their target price on Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. UBS Group raised their target price on Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Needham & Company LLC restated a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $76.42.

Hologic Price Performance

HOLX stock traded up $1.96 during mid-day trading on Thursday, reaching $66.94. 1,515,759 shares of the company's stock were exchanged, compared to its average volume of 2,877,798. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.55. The stock's 50 day moving average is $63.91 and its 200 day moving average is $62.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 2.52. Hologic has a 12-month low of $51.90 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.01 billion. Hologic had a return on equity of 19.71% and a net margin of 13.83%. Hologic's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 earnings per share. On average, research analysts expect that Hologic will post 4.28 EPS for the current year.

Insider Activity at Hologic

In other Hologic news, Director Martin D. Madaus bought 5,445 shares of the business's 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 purchase, the director directly owned 5,445 shares in the company, valued at $300,781.80. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.88% of the company's stock.

Institutional Investors Weigh In On Hologic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. Victory Capital Management Inc. increased its stake 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 worth $408,283,000 after acquiring an additional 1,692,177 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 worth $111,180,000 after acquiring an additional 1,405,085 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in Hologic during the fourth quarter worth $79,291,000. Nuance Investments LLC increased its stake in Hologic by 623.7% during the first quarter. Nuance Investments LLC now owns 1,081,333 shares of the medical equipment provider's stock worth $66,794,000 after acquiring an additional 931,920 shares during the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of Hologic during the first quarter worth $3,534,000. 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.

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