Hologic (NASDAQ:HOLX) Price Target Raised to $70.00 at UBS Group

Hologic (NASDAQ:HOLX) had its price objective increased by UBS Group from $65.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $80.00 in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Raymond James Financial reissued an “outperform” rating and set a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on shares of 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, Royal Bank Of Canada cut their target price on shares of Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Hologic currently has an average rating of “Hold” and an average target price of $76.42.

Hologic Stock Performance

Shares of NASDAQ:HOLX opened at $66.82 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. Hologic has a 1-year low of $51.90 and a 1-year high of $84.67. The stock has a market capitalization of $14.89 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.38 and a beta of 0.55. The business has a 50-day moving average price of $64.16 and a two-hundred day moving average price of $62.83.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. Hologic’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. Equities analysts predict that Hologic will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Hologic

In other Hologic news, Director Martin D. Madaus acquired 5,445 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the transaction, the director directly owned 5,445 shares in the company, valued at $300,781.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Chung Wu Investment Group LLC acquired a new position in shares of Hologic during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of Hologic by 193.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 273 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Hologic during the first quarter worth about $34,000. Cromwell Holdings LLC raised its holdings in Hologic by 307.0% during the second quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 436 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Hologic during the first quarter valued at approximately $42,000. 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.