Investors Buy Hologic Inc. (HOLX) on Weakness
Investors purchased shares of Hologic Inc. (NASDAQ:HOLX) on weakness during trading hours on Monday. $12.91 million flowed into the stock on the tick-up and $6.54 million flowed out of the stock on the tick-down, for a money net flow of $6.37 million into the stock. Of all companies tracked, Hologic had the 15th highest net in-flow for the day. Hologic traded down ($0.07) for the day and closed at $38.73
HOLX has been the subject of several recent research reports. Bank of America Corp. reissued a “buy” rating on shares of Hologic in a research report on Wednesday, June 22nd. Leerink Swann reissued a “buy” rating and issued a $46.00 price target on shares of Hologic in a research report on Thursday, July 28th. Canaccord Genuity set a $45.00 price target on shares of Hologic and gave the stock a “buy” rating in a research report on Thursday, July 28th. Jefferies Group increased their price target on shares of Hologic from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $39.00 price target (up previously from $37.00) on shares of Hologic in a research report on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Hologic presently has an average rating of “Buy” and a consensus price target of $42.35.
The firm’s 50-day moving average is $37.83 and its 200 day moving average is $35.48. The firm has a market cap of $10.74 billion and a price-to-earnings ratio of 42.70.
Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business earned $717.40 million during the quarter, compared to analyst estimates of $703.66 million. During the same quarter last year, the firm earned $0.43 EPS. Hologic’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that Hologic Inc. will post $1.94 EPS for the current fiscal year.
In other news, Director Nancy Leaming sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $36.04, for a total value of $224,204.84. Following the completion of the transaction, the director now directly owns 55,053 shares in the company, valued at approximately $1,984,110.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence M. Levy sold 17,794 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $34.41, for a total transaction of $612,291.54. Following the completion of the transaction, the director now owns 23,257 shares of the company’s stock, valued at $800,273.37. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Hologic stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Hologic Inc. (NASDAQ:HOLX) by 58.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,956,061 shares of the company’s stock after buying an additional 718,741 shares during the period. Schwab Charles Investment Management Inc. owned about 0.69% of Hologic worth $75,680,000 at the end of the most recent quarter.
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. Its Diagnostics products include its Aptima family of assays, which run on its advanced instrumentation systems (Panther and Tigris); ThinPrep system; the Rapid Fetal Fibronectin Test, and Procleix blood screening assays.
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