Needham & Company LLC Reaffirms “Hold” Rating for Hologic (NASDAQ:HOLX)

Needham & Company LLC reissued their hold rating on shares of Hologic (NASDAQ:HOLX) in a research note issued to investors on Friday,Benzinga reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley lowered their target price on Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Evercore ISI decreased their price objective on Hologic from $76.00 to $73.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada cut their price objective on Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $90.00 price target (down from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.15.

Hologic Price Performance

NASDAQ HOLX opened at $54.16 on Friday. The company has a 50-day moving average price of $60.28 and a 200-day moving average price of $69.26. Hologic has a 52 week low of $52.12 and a 52 week high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $12.15 billion, a P/E ratio of 17.09, a PEG ratio of 2.14 and a beta of 0.54.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. General Partner Inc. bought a new position in Hologic during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its holdings in shares of Hologic by 156.3% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 260 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Hologic by 36.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 159 shares in the last quarter. Finally, Smithfield Trust Co increased its position in Hologic by 160.0% in the fourth quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 400 shares during the last quarter. 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.