Hologic (NASDAQ:HOLX) Stock Price Expected to Rise, Mizuho Analyst Says

Hologic (NASDAQ:HOLX) had its price target raised by Mizuho from $65.00 to $70.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial reissued an “outperform” rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of Hologic from $77.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Evercore ISI boosted their price objective on shares of Hologic from $62.00 to $68.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 8th. Stephens reduced their price objective on shares of Hologic from $77.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Hologic in a report on Tuesday, May 27th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Hologic presently has a consensus rating of “Hold” and a consensus price target of $77.33.

Hologic Stock Down 0.0%

Shares of HOLX stock opened at $63.99 on Wednesday. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24. Hologic has a 52-week low of $51.90 and a 52-week high of $84.67. The firm’s 50-day moving average is $62.46 and its 200-day moving average is $63.25.

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 analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts predict that Hologic will post 4.28 EPS for the current year.

Insider Activity at Hologic

In other news, Director Martin D. Madaus acquired 5,445 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the acquisition, the director owned 5,445 shares of the company’s stock, valued at $300,781.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HOLX. Zions Bancorporation National Association UT acquired a new stake in Hologic during the first quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its holdings in Hologic by 79.8% during the fourth 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. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Hologic during the first quarter worth approximately $42,000. Raiffeisen Bank International AG acquired a new stake in Hologic during the fourth quarter worth approximately $49,000. Finally, Allworth Financial LP raised its holdings in Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 216 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.