Hologic (NASDAQ:HOLX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Hologic (NASDAQ:HOLX) in a research report report published on Friday,Benzinga reports.

HOLX has been the topic of a number of other research reports. William Blair reiterated an “outperform” rating on shares of Hologic in a report on Thursday, February 6th. Evercore ISI reduced their price target 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. Raymond James reissued an “outperform” rating and set a $90.00 price objective (down previously from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and set a $84.00 price objective on shares of Hologic in a research note on Thursday, February 6th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.15.

Hologic Trading Down 5.4 %

NASDAQ HOLX opened at $54.16 on Friday. 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 has a fifty-two week low of $52.12 and a fifty-two week high of $84.67. The stock has a market cap of $12.15 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.14 and a beta of 0.54. The stock has a 50 day simple moving average of $60.28 and a two-hundred day simple moving average of $69.26.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts forecast that Hologic will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On Hologic

A number of hedge funds have recently added to or reduced their stakes in HOLX. General Partner Inc. purchased a new position in shares of Hologic in the fourth quarter worth $26,000. Venturi Wealth Management LLC raised its position in 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 last quarter. Allworth Financial LP lifted its stake in Hologic by 46.0% during the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 216 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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. Finally, Smartleaf Asset Management LLC grew its stake 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 worth $43,000 after acquiring an additional 159 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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.