Royal Bank of Canada Has Lowered Expectations for Hologic (NASDAQ:HOLX) Stock Price

Hologic (NASDAQ:HOLX) had its price target dropped by equities research analysts at Royal Bank of Canada from $75.00 to $70.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 29.25% from the stock’s current price.

A number of other research firms have also recently weighed in on HOLX. Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $71.00 price objective (down from $90.00) on shares of Hologic in a research report on Friday. Evercore ISI cut their target price on Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a research report on Friday. Citigroup lowered their price target on Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Hologic currently has a consensus rating of “Hold” and an average price target of $81.15.

Hologic Price Performance

Shares of Hologic stock opened at $54.16 on Friday. The stock has a market cap of $12.15 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.14 and a beta of 0.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The stock’s fifty day moving average is $60.28 and its 200 day moving average is $69.17. Hologic has a one year low of $52.12 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Sell-side analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On Hologic

A number of institutional investors and hedge funds have recently modified their holdings of HOLX. Norges Bank purchased a new position in Hologic during the fourth quarter worth $133,414,000. Victory Capital Management Inc. boosted its stake in shares of Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock worth $408,283,000 after purchasing an additional 1,692,177 shares during the period. Boston Partners grew its holdings in Hologic by 81.0% during the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider’s stock valued at $257,959,000 after purchasing an additional 1,602,463 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in Hologic in the fourth quarter worth about $79,291,000. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of Hologic during the first quarter valued at approximately $3,534,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.