Morgan Stanley Lowers Hologic (NASDAQ:HOLX) Price Target to $65.00

Hologic (NASDAQ:HOLX - Get Free Report) had its target price dropped by Morgan Stanley from $77.00 to $65.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the medical equipment provider's stock. Morgan Stanley's price target would indicate a potential upside of 21.24% from the company's current price.

HOLX has been the subject of several other reports. William Blair reissued an "outperform" rating on shares of Hologic in a report on Thursday, February 6th. Argus lowered shares of Hologic from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Raymond James reaffirmed an "outperform" rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research note on Friday. Citigroup lowered their price target on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Leerink Partners cut Hologic from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $80.00 to $75.00 in a report on Thursday, February 6th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $79.85.

Hologic Stock Down 1.0 %

Shares of HOLX traded down $0.55 on Monday, hitting $53.61. 631,499 shares of the stock traded hands, compared to its average volume of 2,000,910. The company has a market capitalization of $12.03 billion, a PE ratio of 16.98, a P/E/G ratio of 2.14 and a beta of 0.54. Hologic has a one year low of $52.12 and a one year high of $84.67. 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 business has a 50 day simple moving average of $60.28 and a 200 day simple moving average of $69.09.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company's quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities analysts forecast that Hologic will post 4.28 earnings per share for the current fiscal year.

Institutional Trading of Hologic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Hologic by 47.6% during the 3rd quarter. Barclays PLC now owns 718,231 shares of the medical equipment provider's stock worth $58,507,000 after purchasing an additional 231,578 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Hologic during the third quarter valued at $93,000. Tidal Investments LLC lifted its holdings in Hologic by 60.1% during the 3rd quarter. Tidal Investments LLC now owns 15,351 shares of the medical equipment provider's stock valued at $1,250,000 after buying an additional 5,764 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Hologic by 171.7% during the third quarter. Franklin Resources Inc. now owns 278,295 shares of the medical equipment provider's stock worth $22,714,000 after acquiring an additional 175,855 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Hologic by 3.6% in the third quarter. Principal Financial Group Inc. now owns 269,546 shares of the medical equipment provider's stock valued at $21,957,000 after purchasing an additional 9,419 shares during the period. Hedge funds and other 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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