Hologic (NASDAQ:HOLX) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Hologic (NASDAQ:HOLX - Free Report) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $90.00 price target on the medical equipment provider's stock.

Other analysts have also recently issued research reports about the company. Evercore ISI boosted their target price on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Thursday, April 4th. William Blair reiterated an outperform rating on shares of Hologic in a report on Friday, February 2nd. Raymond James boosted their target price on Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 2nd. UBS Group boosted their target price on Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Finally, StockNews.com cut Hologic from a buy rating to a hold rating in a report on Friday, March 8th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Hologic has a consensus rating of Hold and a consensus target price of $84.56.

Hologic Trading Up 0.8 %

Shares of NASDAQ HOLX traded up $0.63 on Friday, reaching $76.54. 2,069,424 shares of the company traded hands, compared to its average volume of 1,754,576. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $86.74. The company has a 50 day moving average of $76.12 and a 200 day moving average of $72.97. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $17.97 billion, a PE ratio of 36.27, a P/E/G ratio of 2.58 and a beta of 1.01.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings data 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 12.98% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company posted $1.06 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Hologic will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Hologic

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

Institutional Investors Weigh In On Hologic

A number of hedge funds have recently added to or reduced their stakes in HOLX. McGlone Suttner Wealth Management Inc. bought a new stake in Hologic in the fourth quarter valued at $27,000. Venturi Wealth Management LLC bought a new position in shares of Hologic in the third quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in shares of Hologic during the third quarter valued at approximately $33,000. Deseret Mutual Benefit Administrators raised its holdings in Hologic by 42.2% during the third 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 in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Hologic by 69.4% in the fourth 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 period. 94.73% of the stock is currently owned by institutional investors.

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.