Hologic (NASDAQ:HOLX) Price Target Raised to $78.00

Hologic (NASDAQ:HOLX) had its price target raised by Raymond James from $68.00 to $78.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

A number of other research firms have also recently weighed in on HOLX. Morgan Stanley increased their price objective on shares of Hologic from $53.00 to $55.00 and gave the stock an equal weight rating in a report on Tuesday, June 9th. UBS Group dropped their price objective on shares of Hologic from $58.00 to $52.00 and set a neutral rating on the stock in a report on Tuesday, April 28th. Zacks Investment Research cut shares of Hologic from a hold rating to a sell rating and set a $52.00 price objective on the stock. in a report on Tuesday, April 28th. Cowen raised shares of Hologic from a market perform rating to an outperform rating and set a $64.00 price objective on the stock in a report on Tuesday, June 30th. Finally, BTIG Research reaffirmed a buy rating and issued a $84.00 price objective (up previously from $63.00) on shares of Hologic in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $65.38.

Shares of NASDAQ:HOLX traded up $0.07 on Thursday, reaching $69.78. 2,584,378 shares of the company’s stock were exchanged, compared to its average volume of 1,982,671. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.69 and a beta of 1.47. Hologic has a fifty-two week low of $26.49 and a fifty-two week high of $70.35. The business’s 50-day moving average is $57.42 and its two-hundred day moving average is $50.06. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 1.22.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.37. The company had revenue of $822.90 million for the quarter, compared to analysts’ expectations of $622.96 million. Hologic had a net margin of 20.03% and a return on equity of 31.40%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Analysts predict that Hologic will post 2.42 earnings per share for the current fiscal year.

In other Hologic news, Director Sally Crawford sold 31,950 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.99, for a total transaction of $1,661,080.50. Following the completion of the sale, the director now directly owns 126,847 shares of the company’s stock, valued at $6,594,775.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter J. Valenti III sold 10,493 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.82, for a total transaction of $543,747.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,932 shares of company stock valued at $12,507,250. Insiders own 1.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. lifted its holdings in shares of Hologic by 1.7% during the first quarter. Baird Financial Group Inc. now owns 14,831 shares of the medical equipment provider’s stock valued at $521,000 after acquiring an additional 242 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of Hologic by 202.0% in the second quarter. Cornerstone Advisors Inc. now owns 447 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 299 shares during the last quarter. Signaturefd LLC grew its position in shares of Hologic by 37.8% during the 2nd quarter. Signaturefd LLC now owns 1,091 shares of the medical equipment provider’s stock worth $62,000 after buying an additional 299 shares during the period. CWM LLC grew its position in shares of Hologic by 63.4% in the 1st quarter. CWM LLC now owns 910 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 353 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Hologic by 1.7% during the 2nd quarter. CIBC Asset Management Inc now owns 22,734 shares of the medical equipment provider’s stock worth $1,296,000 after purchasing an additional 381 shares in the last quarter. 92.34% of the stock is owned by institutional investors.

Hologic Company Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

Further Reading: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Hologic (NASDAQ:HOLX)

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