Hologic (HOLX) Rating Reiterated by Needham & Company LLC
Hologic (NASDAQ:HOLX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Tuesday. They currently have a $48.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $46.00. Needham & Company LLC’s target price would indicate a potential upside of 15.83% from the company’s previous close.
Several other research firms also recently issued reports on HOLX. Piper Jaffray Companies reissued a “buy” rating and issued a $48.00 target price on shares of Hologic in a research report on Thursday, November 9th. BidaskClub downgraded Hologic from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Barclays reissued an “equal weight” rating and issued a $51.00 target price (down from $53.00) on shares of Hologic in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 target price (down from $50.00) on shares of Hologic in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $45.00 target price (down from $48.00) on shares of Hologic in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.38.
Shares of Hologic (HOLX) traded down $0.45 during mid-day trading on Tuesday, hitting $41.44. The stock had a trading volume of 3,069,100 shares, compared to its average volume of 2,768,521. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.61 and a current ratio of 0.79. Hologic has a 1-year low of $35.76 and a 1-year high of $46.80. The firm has a market capitalization of $11,548.39, a P/E ratio of 20.74, a PEG ratio of 2.03 and a beta of 0.95.
Hologic (NASDAQ:HOLX) last released its earnings results on Wednesday, November 8th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Hologic had a return on equity of 21.69% and a net margin of 24.70%. The firm had revenue of $802.90 million for the quarter, compared to the consensus estimate of $792.54 million. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. sell-side analysts forecast that Hologic will post 2.12 earnings per share for the current year.
In other Hologic news, Director Elaine Ullian sold 9,282 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $40.50, for a total transaction of $375,921.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence M. Levy sold 9,596 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $36.81, for a total value of $353,228.76. The disclosure for this sale can be found here. Insiders have sold a total of 28,833 shares of company stock worth $1,107,270 over the last ninety days. 0.79% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Hall Laurie J Trustee boosted its stake in shares of Hologic by 10.2% during the 2nd quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock worth $110,000 after acquiring an additional 225 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Hologic by 31.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock worth $114,000 after acquiring an additional 600 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Hologic by 115.8% during the 3rd quarter. Grove Bank & Trust now owns 2,860 shares of the medical equipment provider’s stock worth $105,000 after acquiring an additional 1,535 shares in the last quarter. National Asset Management Inc. purchased a new stake in shares of Hologic during the 2nd quarter worth about $203,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Hologic during the 2nd quarter worth about $213,000. 98.09% of the stock is currently owned by institutional investors.
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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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