Recent Analysts’ Ratings Updates for Hologic (HOLX)

A number of research firms have changed their ratings and price targets for Hologic (NASDAQ: HOLX):

• 8/10/2024 – Hologic was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 8/2/2024 – Hologic was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 7/30/2024 – Hologic had its price target raised by analysts at Royal Bank of Canada from $81.00 to $82.00. They now have a “sector perform” rating on the stock.
• 7/30/2024 – Hologic had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $92.00 price target on the stock.
• 7/30/2024 – Hologic had its price target raised by analysts at JPMorgan Chase & Co. from $91.00 to $95.00. They now have an “overweight” rating on the stock.
• 7/30/2024 – Hologic had its price target raised by analysts at Evercore ISI from $76.00 to $78.00. They now have an “in-line” rating on the stock.
• 7/30/2024 – Hologic had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $90.00 price target on the stock.
• 7/2/2024 – Hologic had its price target lowered by analysts at Evercore ISI from $78.00 to $76.00. They now have an “in-line” rating on the stock.
• 6/27/2024 – Hologic is now covered by analysts at Stephens. They set an “overweight” rating and a $87.00 price target on the stock.

Hologic Stock Performance

Shares of NASDAQ HOLX traded down $0.20 during midday trading on Wednesday, hitting $81.35. 104,091 shares of the company’s stock traded hands, compared to its average volume of 1,639,059. Hologic, Inc. has a 1 year low of $64.02 and a 1 year high of $84.67. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 2.64 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.29 and a current ratio of 3.99. The firm has a fifty day moving average of $76.57 and a 200 day moving average of $75.77.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 EPS. On average, analysts forecast that Hologic, Inc. will post 4.08 earnings per share for the current year.

Insider Buying and Selling

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 completion of the sale, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $39,560.36. Following the transaction, the insider now owns 3,735 shares of the company’s stock, valued at $310,415.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,280 shares of company stock valued at $1,469,973. 1.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Hologic in the fourth quarter valued at about $217,529,000. Price T Rowe Associates Inc. MD boosted its holdings in Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock worth $490,931,000 after acquiring an additional 2,753,016 shares in the last quarter. Swedbank AB acquired a new stake in Hologic in the first quarter worth about $120,827,000. The Manufacturers Life Insurance Company boosted its holdings in Hologic by 117.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock worth $154,598,000 after acquiring an additional 1,168,564 shares in the last quarter. Finally, Black Creek Investment Management Inc. boosted its holdings in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

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.