Hologic (NASDAQ:HOLX) Downgraded by Citigroup

by · The Markets Daily

Hologic (NASDAQ:HOLX – Get Free Report) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $85.00 target price on the medical equipment provider’s stock, down from their prior target price of $95.00. Citigroup’s price target would suggest a potential upside of 6.56% from the company’s current price.

Several other research firms have also recently weighed in on HOLX. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Hologic in a research note on Tuesday, September 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI increased their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

View Our Latest Stock Analysis on Hologic

Hologic Stock Down 1.0 %

Shares of NASDAQ HOLX opened at $79.77 on Tuesday. The company has a 50-day moving average of $81.22 and a 200 day moving average of $77.38. Hologic has a 12-month low of $64.02 and a 12-month high of $84.67. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The stock has a market cap of $18.62 billion, a PE ratio of 40.70, a P/E/G ratio of 2.58 and a beta of 0.98.

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

Insiders Place Their Bets

In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the sale, the insider now directly owns 3,735 shares in the company, valued at approximately $310,415.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the sale, the insider now directly owns 10,476 shares in the company, valued at approximately $858,927.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at $310,415.85. The disclosure for this sale can be found here. Insiders have sold a total of 18,280 shares of company stock worth $1,469,973 in the last ninety days. 1.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hologic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares in the last quarter. Graypoint LLC grew its position in shares of Hologic by 3.9% in the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Hologic by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after buying an additional 165 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Hologic by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 189 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Hologic by 0.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,112 shares of the medical equipment provider’s stock valued at $2,425,000 after buying an additional 192 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Company Profile

(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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