Morgan Stanley Cuts Hologic (NASDAQ:HOLX) Price Target to $65.00

Hologic (NASDAQ:HOLX) had its price objective reduced by Morgan Stanley from $77.00 to $65.00 in a research note published on Monday morning, Marketbeat.com reports. They currently have an equal weight rating on the medical equipment provider’s stock.

Other equities research analysts have also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Stephens reissued an “overweight” rating and set a $84.00 target price on shares of Hologic in a research report on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $71.00 price target (down from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Evercore ISI lowered their target price on shares of Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Twelve research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.85.

Hologic Stock Up 4.3 %

NASDAQ HOLX opened at $55.41 on Monday. The stock has a 50 day moving average price of $59.69 and a 200-day moving average price of $68.69. Hologic has a one year low of $51.90 and a one year high of $84.67. The company has a market capitalization of $12.43 billion, a P/E ratio of 17.48, 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.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Hologic’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. As a group, equities analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its holdings in shares of Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Hologic by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 260 shares during the period. Smartleaf Asset Management LLC grew its holdings in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 159 shares in the last quarter. Smithfield Trust Co increased its position in Hologic by 160.0% during the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 400 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Hologic in the 1st quarter valued at about $42,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Company Profile

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.