Hologic (NASDAQ:HOLX) Downgraded to “In-Line” Rating by Evercore ISI

Hologic (NASDAQ:HOLX) was downgraded by research analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued on Monday, Marketbeat reports. They currently have a $78.00 target price on the medical equipment provider’s stock. Evercore ISI’s price target suggests a potential upside of 4.61% from the stock’s previous close.

A number of other analysts have also commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. BNP Paribas Exane downgraded Hologic from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a report on Friday, November 21st. Morgan Stanley boosted their target price on Hologic from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hologic in a report on Friday, October 31st. Finally, Stephens cut shares of Hologic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $78.00 to $76.00 in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.29.

Hologic Stock Performance

Shares of HOLX stock opened at $74.56 on Monday. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.06 and a current ratio of 3.75. Hologic has a one year low of $51.90 and a one year high of $75.34. The company’s 50-day moving average is $74.55 and its 200 day moving average is $69.53.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Hologic had a net margin of 13.80% and a return on equity of 20.13%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Sell-side analysts expect that Hologic will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Hologic news, Director Christiana Stamoulis sold 7,402 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the transaction, the director directly owned 47,336 shares in the company, valued at approximately $3,458,841.52. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in Hologic by 294.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock valued at $718,223,000 after purchasing an additional 8,227,318 shares during the period. Invesco Ltd. grew its stake in shares of Hologic by 72.5% during the 2nd quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after acquiring an additional 3,505,828 shares during the period. Norges Bank purchased a new stake in Hologic in the 2nd quarter worth approximately $180,055,000. Allspring Global Investments Holdings LLC raised its stake in Hologic by 473.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider’s stock worth $111,180,000 after acquiring an additional 1,405,085 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Hologic by 1,060.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,218,352 shares of the medical equipment provider’s stock worth $82,227,000 after acquiring an additional 1,113,330 shares during the period. 94.73% of the stock is owned by institutional investors.

About Hologic

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.