Hologic (HOLX) Upgraded to “Buy” at Cowen
Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $48.00 price objective (up from $46.00) on shares of Hologic in a research note on Tuesday, December 5th. Piper Jaffray Companies reiterated a buy rating and set a $48.00 price objective on shares of Hologic in a research note on Thursday, November 9th. Jefferies Group reiterated a buy rating and set a $44.00 price objective (down from $49.00) on shares of Hologic in a research note on Tuesday, October 10th. Stifel Nicolaus restated a buy rating and set a $45.00 target price (down from $48.00) on shares of Hologic in a report on Monday, October 9th. Finally, Goldman Sachs Group upgraded Hologic from a buy rating to a conviction-buy rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Hologic presently has an average rating of Buy and an average target price of $47.93.
Shares of Hologic (NASDAQ HOLX) traded up $0.12 during trading on Wednesday, hitting $43.37. The company had a trading volume of 809,313 shares, compared to its average volume of 3,099,678. Hologic has a 1 year low of $35.76 and a 1 year high of $46.80. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.79. The stock has a market cap of $11,923.32, a price-to-earnings ratio of 16.43, a PEG ratio of 2.09 and a beta of 0.95.
Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, November 8th. The medical equipment provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $802.90 million during the quarter, compared to analyst estimates of $792.54 million. During the same period in the previous year, the business earned $0.52 EPS. Hologic’s quarterly revenue was up 10.5% on a year-over-year basis. sell-side analysts anticipate that Hologic will post 2.12 earnings per share for the current fiscal year.
In related news, Director Lawrence M. Levy sold 9,596 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $36.81, for a total value of $353,228.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Karleen Marie Oberton sold 1,023 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $39.84, for a total value of $40,756.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,833 shares of company stock worth $1,107,270. Insiders own 0.79% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its holdings in Hologic by 115.8% in the third quarter. Grove Bank & Trust now owns 2,860 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 1,535 shares during the last quarter. Hall Laurie J Trustee lifted its holdings in Hologic by 10.2% in the second quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock valued at $110,000 after acquiring an additional 225 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in Hologic by 31.0% in the second quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock valued at $114,000 after acquiring an additional 600 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in Hologic in the second quarter valued at approximately $191,000. Finally, National Asset Management Inc. acquired a new position in Hologic in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.
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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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