Hologic (NASDAQ:HOLX) Price Target Raised to $76.00 at Morgan Stanley

Hologic (NASDAQ:HOLX) had its target price boosted by Morgan Stanley from $69.00 to $76.00 in a report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on HOLX. Wall Street Zen lowered Hologic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hologic in a report on Friday, October 31st. Mizuho downgraded shares of Hologic from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $78.00 in a research note on Thursday, October 23rd. Needham & Company LLC restated a “hold” rating on shares of Hologic in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $78.00 price objective on shares of Hologic in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.77.

Hologic Stock Up 0.4%

HOLX opened at $74.60 on Tuesday. The business’s fifty day simple moving average is $69.29 and its 200 day simple moving average is $65.44. Hologic has a 52 week low of $51.90 and a 52 week high of $80.31. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. The stock has a market cap of $16.59 billion, a PE ratio of 30.95, a P/E/G ratio of 2.54 and a beta of 0.65.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 3rd. The medical equipment provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. As a group, research analysts expect that Hologic will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Stephen P. Macmillan sold 138,358 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the sale, the chief executive officer owned 1,234,624 shares of the company’s stock, valued at $82,682,769.28. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christiana Stamoulis sold 7,402 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $73.07, for a total transaction of $540,864.14. Following the transaction, the director directly owned 47,336 shares in the company, valued at approximately $3,458,841.52. The trade was a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Hologic by 294.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock valued at $718,223,000 after acquiring an additional 8,227,318 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Hologic by 72.5% in the 2nd quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after purchasing an additional 3,505,828 shares during the period. Norges Bank bought a new stake in shares of Hologic during the second quarter valued at approximately $180,055,000. Victory Capital Management Inc. grew its stake in Hologic by 34.4% in the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock worth $408,283,000 after purchasing an additional 1,692,177 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Hologic by 473.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider’s stock worth $111,180,000 after purchasing an additional 1,405,085 shares in 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.