Hologic (NASDAQ:HOLX) Upgraded by Citigroup to "Buy"

Hologic (NASDAQ:HOLX - Get Free Report) was upgraded by stock analysts at Citigroup from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $95.00 target price on the medical equipment provider's stock, up from their previous target price of $80.00. Citigroup's price target would indicate a potential upside of 22.53% from the company's previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Hologic from a "buy" rating to a "hold" rating in a report on Friday, March 8th. UBS Group lifted their price objective on shares of Hologic from $78.00 to $79.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Raymond James raised their target price on shares of Hologic from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. Needham & Company LLC raised their target price on shares of Hologic from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Finally, William Blair reissued an "outperform" rating on shares of Hologic in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Hologic presently has an average rating of "Hold" and a consensus target price of $88.00.

Hologic Stock Performance

Shares of HOLX traded up $1.45 on Wednesday, reaching $77.53. 1,661,419 shares of the company's stock traded hands, compared to its average volume of 1,843,760. 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's 50 day simple moving average is $74.98 and its two-hundred day simple moving average is $71.97. Hologic has a 52-week low of $64.02 and a 52-week high of $87.88. The stock has a market cap of $18.20 billion, a PE ratio of 36.58, a PEG ratio of 2.58 and a beta of 1.00.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.03. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $989.32 million. Hologic had a return on equity of 18.91% and a net margin of 12.98%. The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. On average, analysts forecast that Hologic will post 4.02 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, Director Scott T. Garrett sold 16,441 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares of the company's stock, valued at $3,670,130.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles J. Dockendorff sold 1,465 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now owns 1,572 shares of the company's stock, valued at approximately $119,802.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott T. Garrett sold 16,441 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were 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 disclosure for this sale can be found here. Insiders sold 32,846 shares of company stock valued at $2,473,443 over the last 90 days. Corporate insiders own 1.75% of the company's stock.

Institutional Trading of Hologic

Several large investors have recently bought and sold shares of HOLX. Belpointe Asset Management LLC grew its stake in shares of Hologic by 18.0% in the 1st quarter. Belpointe Asset Management LLC now owns 937 shares of the medical equipment provider's stock valued at $76,000 after buying an additional 143 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in shares of Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Hologic by 0.3% in the 4th quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider's stock valued at $4,810,000 after purchasing an additional 172 shares in the last quarter. Cooper Financial Group grew its position in Hologic by 1.9% during the 3rd quarter. Cooper Financial Group now owns 9,502 shares of the medical equipment provider's stock worth $659,000 after purchasing an additional 174 shares during the last quarter. Finally, Kinneret Advisory LLC grew its position in Hologic by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 7,867 shares of the medical equipment provider's stock worth $604,000 after purchasing an additional 176 shares during the last quarter. 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.