Argus Increases Hologic (NASDAQ:HOLX) Price Target to $95.00

Hologic (NASDAQ:HOLX - Free Report) had its price target boosted by Argus from $89.00 to $95.00 in a report issued on Thursday morning, Benzinga reports. Argus currently has a buy rating on the medical equipment provider's stock.

HOLX has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Evercore ISI raised their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and raised their price objective for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Needham & Company LLC restated a buy rating and issued a $90.00 price objective on shares of Hologic in a research note on Friday, May 3rd. Finally, StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Hologic has a consensus rating of Moderate Buy and an average target price of $85.60.

Hologic Stock Performance

Shares of NASDAQ:HOLX traded down $0.11 during trading on Thursday, reaching $75.75. The stock had a trading volume of 2,037,848 shares, compared to its average volume of 1,738,607. Hologic has a 52 week low of $64.02 and a 52 week high of $84.28. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 38.94, a P/E/G ratio of 2.55 and a beta of 1.01. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $76.20 and a two-hundred day simple moving average of $73.22.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $1.06 earnings per share. The company's quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles J. Dockendorff sold 1,465 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the sale, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Scott T. Garrett sold 16,441 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the sale, the director now owns 48,611 shares in the company, valued at approximately $3,670,130.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares of the company's stock, valued at $119,802.12. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. bought a new stake in Hologic during the 4th quarter worth about $27,000. Venturi Wealth Management LLC bought a new stake in Hologic during the 3rd quarter worth about $29,000. NBC Securities Inc. bought a new stake in Hologic during the 3rd quarter worth about $33,000. Deseret Mutual Benefit Administrators raised its holdings in Hologic by 42.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 155 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider's stock worth $40,000 after purchasing an additional 227 shares during the last quarter. 94.73% of the stock is 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.