Hologic (NASDAQ:HOLX) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research started coverage on shares of Hologic (NASDAQ:HOLX) in a research report report published on Friday, MarketBeat reports. The brokerage issued a peer perform rating on the medical equipment provider’s stock.

Several other research analysts have also commented on HOLX. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on Hologic in a research note on Tuesday. They issued a “hold” rating and a $85.00 price objective on the stock. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. BNP Paribas raised Hologic to a “strong-buy” rating in a research report on Tuesday. Finally, Raymond James boosted their price objective on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Hologic Price Performance

Hologic stock opened at $73.65 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The company’s 50 day simple moving average is $79.32 and its 200-day simple moving average is $78.56. Hologic has a 1 year low of $70.24 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new position in Hologic in the 3rd quarter valued at $1,110,000. Franklin Resources Inc. increased its stake in shares of Hologic by 171.7% during the third quarter. Franklin Resources Inc. now owns 278,295 shares of the medical equipment provider’s stock worth $22,714,000 after acquiring an additional 175,855 shares during the period. Tidal Investments LLC raised its holdings in Hologic by 60.1% during the third quarter. Tidal Investments LLC now owns 15,351 shares of the medical equipment provider’s stock worth $1,250,000 after purchasing an additional 5,764 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Hologic during the 3rd quarter worth approximately $93,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Hologic by 4.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,613 shares of the medical equipment provider’s stock valued at $1,312,000 after buying an additional 667 shares during the period. Institutional investors and hedge funds 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.