Hologic (NASDAQ:HOLX) Cut to Hold at Argus

Argus lowered shares of Hologic (NASDAQ:HOLX) from a buy rating to a hold rating in a report published on Monday morning, MarketBeat.com reports.

Several other equities analysts also recently issued reports on the stock. Raymond James Financial downgraded shares of Hologic from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. Morgan Stanley lifted their target price on shares of Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $78.00 target price on shares of Hologic in a report on Wednesday, October 22nd. Finally, Evercore ISI lowered Hologic from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $79.00 to $78.00 in a research report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.29.

Hologic Trading Up 0.4%

Shares of HOLX opened at $75.16 on Monday. The company has a current ratio of 3.75, a quick ratio of 3.06 and a debt-to-equity ratio of 0.50. The stock has a market cap of $16.75 billion, a PE ratio of 30.31, a PEG ratio of 2.12 and a beta of 0.69. Hologic has a 1 year low of $51.90 and a 1 year high of $75.34. The stock has a 50 day simple moving average of $74.69 and a 200-day simple moving average of $70.07.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Hologic had a return on equity of 20.13% and a net margin of 13.80%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. Hologic’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hologic news, Director Christiana Stamoulis sold 7,402 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $73.07, for a total transaction of $540,864.14. Following the transaction, the director owned 47,336 shares of the company’s stock, valued at approximately $3,458,841.52. This represents a 13.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hologic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Winnow Wealth LLC acquired a new position in shares of Hologic during the third quarter valued at $26,000. Chung Wu Investment Group LLC bought a new stake in Hologic during the 2nd quarter worth about $26,000. Root Financial Partners LLC acquired a new position in Hologic during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its position in Hologic by 193.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 273 shares during the period. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Hologic by 341.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 468 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 362 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.