Needham & Company LLC Downgrades Hologic (NASDAQ:HOLX) to Hold

Hologic (NASDAQ:HOLX) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research report issued on Monday,Briefing.com Automated Import reports.

Several other equities research analysts also recently weighed in on HOLX. JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. William Blair restated an “outperform” rating on shares of Hologic in a report on Monday, January 13th. UBS Group raised their price objective on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Wolfe Research began coverage on Hologic in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.92.

Hologic Trading Down 0.0 %

Shares of NASDAQ HOLX opened at $72.14 on Monday. 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 business’s 50 day moving average price is $73.35 and its 200-day moving average price is $78.07. Hologic has a fifty-two week low of $68.61 and a fifty-two week high of $84.67. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.35 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Hologic will post 4.28 earnings per share for the current year.

Insider Transactions at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

A number of institutional investors have recently made changes to their positions in HOLX. Creative Planning lifted its position in Hologic by 2.4% during the 2nd quarter. Creative Planning now owns 21,813 shares of the medical equipment provider’s stock worth $1,620,000 after acquiring an additional 503 shares during the period. Sanctuary Advisors LLC acquired a new stake in Hologic during the 2nd quarter worth about $1,212,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hologic during the 2nd quarter worth about $100,000. Czech National Bank lifted its position in Hologic by 6.4% during the 3rd quarter. Czech National Bank now owns 47,316 shares of the medical equipment provider’s stock worth $3,854,000 after acquiring an additional 2,843 shares during the period. Finally, Quent Capital LLC lifted its position in Hologic by 93.5% during the 3rd quarter. Quent Capital LLC now owns 1,128 shares of the medical equipment provider’s stock worth $92,000 after acquiring an additional 545 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.