Hologic (NASDAQ:HOLX) Stock Rating Upgraded by Royal Bank Of Canada

Key Points

• Royal Bank of Canada has upgraded Hologic to an "outperform" rating, raising its price target to $87.00, indicating a potential upside of 28.28% from the stock's previous close.
• The average analyst rating for Hologic is currently a "Moderate Buy" with a consensus price target of $77.83.
• Hologic reported earnings of $1.08 EPS for the last quarter, surpassing estimates and showing a year-over-year revenue increase of 1.2% to $1.02 billion.

Hologic (NASDAQ:HOLX - Get Free Report) was upgraded by equities researchers at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $87.00 price target on the medical equipment provider's stock, up from their previous price target of $72.00. Royal Bank Of Canada's price target points to a potential upside of 27.83% from the stock's current price.

A number of other brokerages have also commented on HOLX. UBS Group raised their target price on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Evercore ISI raised their target price on shares of Hologic from $62.00 to $68.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Needham & Company LLC reiterated a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Raymond James Financial reiterated an "outperform" rating and set a $71.00 price objective (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Finally, Stephens decreased their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.83.

Hologic Trading Up 0.2%

Shares of NASDAQ:HOLX traded up $0.13 during trading on Wednesday, reaching $68.06. The company's stock had a trading volume of 1,889,601 shares, compared to its average volume of 1,757,182. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52. Hologic has a 12 month low of $51.90 and a 12 month high of $84.67. The firm's 50 day simple moving average is $65.09 and its two-hundred day simple moving average is $62.74. The stock has a market capitalization of $15.14 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. On average, research analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

Several institutional investors and hedge funds have recently bought and sold shares of HOLX. Capital Investment Counsel Inc raised its holdings in shares of Hologic by 2.6% in the 2nd quarter. Capital Investment Counsel Inc now owns 5,814 shares of the medical equipment provider's stock valued at $379,000 after purchasing an additional 150 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Hologic by 5.1% in the 2nd quarter. Greenleaf Trust now owns 3,579 shares of the medical equipment provider's stock valued at $233,000 after purchasing an additional 173 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in shares of Hologic by 3.6% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,173 shares of the medical equipment provider's stock valued at $320,000 after purchasing an additional 180 shares in the last quarter. Allworth Financial LP grew its position in shares of Hologic by 46.0% in the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock valued at $40,000 after buying an additional 216 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of Hologic by 7.9% in the 4th quarter. Dark Forest Capital Management LP now owns 3,053 shares of the medical equipment provider's stock valued at $220,000 after buying an additional 223 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.