Evercore ISI Forecasts Strong Price Appreciation for Hologic (NASDAQ:HOLX) Stock

Hologic (NASDAQ:HOLX) had its price target upped by Evercore ISI from $62.00 to $68.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an in-line rating on the medical equipment provider’s stock.

Other research analysts have also issued reports about the company. Royal Bank Of Canada lowered their target price on Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Hologic in a research report on Tuesday, May 27th. Stephens decreased their price objective on Hologic from $77.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley lowered their price target on Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $71.00 price objective (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Twelve research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hologic presently has a consensus rating of “Hold” and an average price target of $77.92.

Hologic Stock Performance

HOLX stock opened at $64.90 on Tuesday. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The firm has a market cap of $14.46 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.36 and a beta of 0.55. Hologic has a 12-month low of $51.90 and a 12-month high of $84.67. The stock’s 50 day simple moving average is $60.97 and its 200 day simple moving average is $63.61.

Hologic (NASDAQ:HOLX) last issued its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Activity

In other Hologic news, Director Martin D. Madaus purchased 5,445 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director owned 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hologic

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in Hologic by 22.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,835 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 335 shares during the period. SG Americas Securities LLC increased its position in Hologic by 116.6% during the 1st quarter. SG Americas Securities LLC now owns 9,609 shares of the medical equipment provider’s stock worth $594,000 after buying an additional 5,172 shares during the period. Groupama Asset Managment increased its position in Hologic by 63.4% during the 4th quarter. Groupama Asset Managment now owns 54,214 shares of the medical equipment provider’s stock worth $3,918,000 after buying an additional 21,037 shares during the period. Proficio Capital Partners LLC bought a new position in Hologic during the 4th quarter worth $4,215,000. Finally, Signaturefd LLC increased its position in Hologic by 34.5% during the 4th quarter. Signaturefd LLC now owns 2,940 shares of the medical equipment provider’s stock worth $212,000 after buying an additional 754 shares during the period. Institutional investors own 94.73% of the company’s stock.

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.