Needham & Company LLC Upgrades Hologic, Inc. (HOLX) to Buy
Hologic, Inc. (NASDAQ:HOLX) was upgraded by equities research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $46.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 16.37% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Bank of America Corporation cut shares of Hologic from a “buy” rating to a “neutral” rating in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and set a $47.00 price objective on shares of Hologic in a research report on Sunday, February 5th. Zacks Investment Research cut shares of Hologic from a “buy” rating to a “hold” rating in a research report on Friday, February 3rd. Canaccord Genuity set a $48.00 price objective on shares of Hologic and gave the stock a “buy” rating in a research report on Monday, January 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price objective on shares of Hologic in a research report on Wednesday, January 18th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $44.47.
Shares of Hologic (NASDAQ:HOLX) opened at 39.53 on Wednesday. Hologic has a 12 month low of $32.64 and a 12 month high of $41.24. The firm has a market cap of $11.04 billion, a PE ratio of 33.79 and a beta of 1.10. The stock’s 50 day moving average is $39.90 and its 200 day moving average is $38.83.
Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Hologic had a net margin of 11.57% and a return on equity of 27.17%. The business earned $734.40 million during the quarter, compared to analysts’ expectations of $725.01 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. Hologic’s revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Hologic will post $1.92 EPS for the current fiscal year.
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In other news, VP Karleen Marie Oberton sold 3,023 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $38.32, for a total value of $115,841.36. Following the completion of the transaction, the vice president now owns 13,260 shares of the company’s stock, valued at $508,123.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elaine Ullian sold 9,423 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $39.54, for a total transaction of $372,585.42. Following the completion of the transaction, the director now directly owns 36,798 shares of the company’s stock, valued at approximately $1,454,992.92. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HOLX. Global X Management Co. LLC boosted its position in Hologic by 149.9% in the third quarter. Global X Management Co. LLC now owns 3,871 shares of the company’s stock worth $150,000 after buying an additional 2,322 shares during the period. Tower Research Capital LLC TRC boosted its position in Hologic by 159.1% in the third quarter. Tower Research Capital LLC TRC now owns 4,465 shares of the company’s stock worth $173,000 after buying an additional 2,742 shares during the period. Boston Advisors LLC bought a new position in Hologic during the third quarter worth approximately $202,000. Cornercap Investment Counsel Inc. bought a new position in Hologic during the fourth quarter worth approximately $202,000. Finally, Conning Inc. bought a new position in Hologic during the third quarter worth approximately $203,000. 94.09% of the stock is owned by hedge funds and other institutional investors.
Hologic Company Profile
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. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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