Hologic (NASDAQ:HOLX) Price Target Raised to $78.00 at Needham & Company LLC

Hologic (NASDAQ:HOLX) had its price target upped by Needham & Company LLC from $64.00 to $78.00 in a research note released on Thursday, The Fly reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on HOLX. William Blair reiterated an outperform rating on shares of Hologic in a report on Monday, July 27th. TheStreet upgraded shares of Hologic from a c+ rating to a b- rating in a research report on Thursday, May 14th. SVB Leerink increased their price objective on shares of Hologic from $62.00 to $66.00 and gave the company an outperform rating in a research report on Wednesday, July 15th. BTIG Research restated a buy rating and set a $84.00 price objective (up previously from $63.00) on shares of Hologic in a research report on Wednesday. Finally, Zacks Investment Research downgraded shares of Hologic from a hold rating to a sell rating and set a $52.00 price objective on the stock. in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $65.38.

HOLX stock traded up $0.07 during trading on Thursday, reaching $69.78. The company had a trading volume of 2,584,378 shares, compared to its average volume of 1,982,671. Hologic has a 52 week low of $26.49 and a 52 week high of $70.35. The company has a market cap of $18.07 billion, a P/E ratio of 28.25, a PEG ratio of 3.69 and a beta of 1.47. The business has a 50 day moving average of $57.42 and a 200 day moving average of $50.06. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.47 and a quick ratio of 1.04.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.37. The business had revenue of $822.90 million for the quarter, compared to analysts’ expectations of $622.96 million. Hologic had a net margin of 20.03% and a return on equity of 31.40%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts expect that Hologic will post 2.42 earnings per share for the current year.

In other news, CEO Stephen P. Macmillan sold 190,996 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $50.97, for a total transaction of $9,735,066.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Peter J. Valenti III sold 10,493 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $51.82, for a total transaction of $543,747.26. The disclosure for this sale can be found here. Insiders have sold a total of 243,932 shares of company stock worth $12,507,250 over the last 90 days. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in HOLX. Norges Bank bought a new stake in shares of Hologic during the 4th quarter valued at $153,506,000. Teacher Retirement System of Texas purchased a new position in shares of Hologic during the 1st quarter worth about $34,864,000. Frontier Capital Management Co. LLC purchased a new position in shares of Hologic during the 2nd quarter worth about $44,943,000. AQR Capital Management LLC boosted its stake in shares of Hologic by 68.4% during the 1st quarter. AQR Capital Management LLC now owns 1,689,040 shares of the medical equipment provider’s stock worth $59,285,000 after purchasing an additional 686,101 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Hologic by 527.6% during the 1st quarter. Royal Bank of Canada now owns 719,977 shares of the medical equipment provider’s stock worth $25,273,000 after purchasing an additional 605,265 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Hologic Company Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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Analyst Recommendations for Hologic (NASDAQ:HOLX)

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