Needham & Company LLC Reiterates Buy Rating for Hologic (NASDAQ:HOLX)

by · The Markets Daily

Needham & Company LLC reiterated their buy rating on shares of Hologic (NASDAQ:HOLX – Free Report) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $90.00 target price on the medical equipment provider’s stock.

A number of other research firms have also weighed in on HOLX. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Leerink Partners cut their price target on Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Mizuho upped their target price on Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Stephens reissued an “overweight” rating and issued a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Check Out Our Latest Research Report on HOLX

Hologic Stock Up 1.4 %

Shares of Hologic stock opened at $81.57 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. Hologic has a 12-month low of $64.02 and a 12-month high of $84.67. The company has a market cap of $19.04 billion, a P/E ratio of 41.62, a PEG ratio of 2.89 and a beta of 0.98. The company’s fifty day simple moving average is $80.94 and its two-hundred day simple moving average is $77.73.

Hologic (NASDAQ:HOLX – Get Free Report) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Hologic will post 4.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the transaction, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares of the company’s stock, valued at $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the transaction, the insider now directly owns 10,476 shares in the company, valued at approximately $858,927.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Integrated Advisors Network LLC grew its position in Hologic by 5.9% during the 4th quarter. Integrated Advisors Network LLC now owns 4,044 shares of the medical equipment provider’s stock worth $289,000 after purchasing an additional 225 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Hologic in the 4th quarter valued at about $289,000. PNC Financial Services Group Inc. raised its stake in Hologic by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 31,933 shares of the medical equipment provider’s stock valued at $2,282,000 after acquiring an additional 288 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in Hologic during the 4th quarter worth approximately $492,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Hologic in the 4th quarter valued at approximately $352,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Hologic

(Get Free Report)

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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