JPMorgan Chase & Co. Raises Hologic (NASDAQ:HOLX) Price Target to $91.00

Hologic (NASDAQ:HOLX) had its price objective boosted by JPMorgan Chase & Co. from $85.00 to $91.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

HOLX has been the topic of a number of other reports. Raymond James boosted their target price on Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. William Blair reissued an outperform rating on shares of Hologic in a research report on Friday, February 2nd. StockNews.com lowered Hologic from a buy rating to a hold rating in a research report on Friday, March 8th. Needham & Company LLC restated a buy rating and set a $90.00 target price on shares of Hologic in a research note on Friday. Finally, Citigroup upgraded Hologic from a neutral rating to a buy rating and increased their target price for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hologic presently has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Stock Performance

HOLX stock traded down $0.61 during trading on Friday, reaching $75.93. 1,585,120 shares of the company’s stock were exchanged, compared to its average volume of 1,752,628. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. The firm has a market cap of $17.82 billion, a PE ratio of 39.05, a P/E/G ratio of 2.55 and a beta of 1.01. The company’s fifty day moving average price is $76.13 and its 200-day moving average price is $73.09. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, research analysts expect that Hologic will post 4.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the business’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 transaction of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the transaction, the director now owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the transaction, 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 owned by company insiders.

Institutional Investors Weigh In On Hologic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its stake in Hologic by 27.8% in the third quarter. Commonwealth Equity Services LLC now owns 74,949 shares of the medical equipment provider’s stock worth $5,201,000 after buying an additional 16,319 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Hologic by 3.0% during the third quarter. Raymond James & Associates now owns 252,013 shares of the medical equipment provider’s stock valued at $17,490,000 after purchasing an additional 7,407 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hologic by 10.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 282,113 shares of the medical equipment provider’s stock worth $19,579,000 after acquiring an additional 25,614 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Hologic by 11.4% during the 3rd quarter. Mackenzie Financial Corp now owns 65,414 shares of the medical equipment provider’s stock worth $4,533,000 after acquiring an additional 6,671 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Hologic by 1.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 53,746 shares of the medical equipment provider’s stock valued at $3,730,000 after purchasing an additional 863 shares during the period. 94.73% of the stock is currently owned by institutional investors.

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.