Raymond James Reiterates “Outperform” Rating for Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX)‘s stock had its “outperform” rating reissued by Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $71.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $90.00. Raymond James’ target price would indicate a potential upside of 31.09% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Stephens restated an “overweight” rating and set a $84.00 price target on shares of Hologic in a research note on Thursday, February 6th. Royal Bank of Canada cut their target price on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $80.00 to $75.00 in a research report on Thursday, February 6th. Citigroup cut their price objective on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Argus lowered Hologic from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Hologic presently has a consensus rating of “Hold” and a consensus target price of $81.15.

Hologic Trading Down 5.4 %

Shares of HOLX opened at $54.16 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.14 and a beta of 0.54. The company has a 50-day moving average of $60.28 and a 200 day moving average of $69.17. Hologic has a 1-year low of $52.12 and a 1-year high of $84.67.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. General Partner Inc. acquired a new stake in Hologic in the fourth quarter worth about $26,000. Venturi Wealth Management LLC raised its position in shares of Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Hologic by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 260 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 159 shares during the last quarter. Finally, Smithfield Trust Co increased its stake in Hologic by 160.0% during the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.