Traders Buy Hologic Inc. (HOLX) on Weakness
Investors purchased shares of Hologic Inc. (NASDAQ:HOLX) on weakness during trading hours on Tuesday. $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 40th 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 research reports. Barclays PLC reiterated a “hold” rating and issued a $42.00 price target on shares of Hologic in a research note on Sunday, July 10th. Bank of America Corp. reiterated a “buy” rating on shares of Hologic in a research note on Wednesday, June 22nd. Jefferies Group reiterated a “buy” rating and issued a $42.00 price target on shares of Hologic in a research note on Tuesday, June 21st. Zacks Investment Research lowered shares of Hologic from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Canaccord Genuity set a $45.00 price target on shares of Hologic and gave the stock a “buy” rating in a research note on Thursday, July 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.35.
The stock has a 50-day moving average price of $37.91 and a 200-day moving average price of $35.52. The firm has a market cap of $10.67 billion and a P/E ratio of 42.40.
Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The firm earned $717.40 million during the quarter, compared to the consensus estimate of $703.66 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts expect that Hologic Inc. will post $1.94 EPS for the current year.
In other Hologic news, Director Nancy Leaming sold 6,221 shares of the business’s stock in a transaction dated 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 $1,984,110.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A hedge fund recently raised its stake in Hologic stock. I.G. Investment Management LTD. boosted its position in Hologic Inc. (NASDAQ:HOLX) by 37.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,840 shares of the company’s stock after buying an additional 18,695 shares during the period. I.G. Investment Management LTD.’s holdings in Hologic were worth $2,663,000 at the end of the most recent reporting period.
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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