Hologic (NASDAQ:HOLX) Cut to In-Line at Evercore ISI

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

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Hologic in a research report on Tuesday, November 4th. Mizuho cut shares of Hologic from an “outperform” rating to a “neutral” rating and raised their target price for the company from $70.00 to $78.00 in a research note on Thursday, October 23rd. BNP Paribas cut shares of Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 price target on the stock. in a research note on Friday, November 21st. Morgan Stanley raised their price objective on Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Stephens downgraded Hologic from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.29.

Hologic Price Performance

NASDAQ:HOLX opened at $74.56 on Monday. The business’s 50-day simple moving average is $74.55 and its two-hundred day simple moving average is $69.53. Hologic has a 52 week low of $51.90 and a 52 week high of $75.34. The stock has a market cap of $16.62 billion, a PE ratio of 30.06, a P/E/G ratio of 2.12 and a beta of 0.69. The company has a quick ratio of 3.06, a current ratio of 3.75 and a debt-to-equity ratio of 0.50.

Hologic (NASDAQ:HOLX) last released 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 during the quarter, compared to analysts’ expectations of $1.03 billion. Hologic had a return on equity of 20.13% and a net margin of 13.80%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. As a group, analysts forecast that Hologic will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Christiana Stamoulis sold 7,402 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the completion of the transaction, the director owned 47,336 shares of the company’s stock, valued at approximately $3,458,841.52. This trade represents a 13.52% decrease in their position. The sale 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.

Institutional Investors Weigh In On Hologic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hologic by 10.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,776 shares of the medical equipment provider’s stock valued at $2,395,000 after purchasing an additional 3,520 shares during the last quarter. Petrus Trust Company LTA purchased a new position in Hologic during the first quarter worth $332,000. Scientech Research LLC bought a new position in Hologic during the first quarter valued at $647,000. UniSuper Management Pty Ltd raised its stake in shares of Hologic by 14.4% in the first quarter. UniSuper Management Pty Ltd now owns 34,810 shares of the medical equipment provider’s stock valued at $2,150,000 after acquiring an additional 4,382 shares during the period. Finally, USS Investment Management Ltd lifted its holdings in shares of Hologic by 8.8% in the 1st quarter. USS Investment Management Ltd now owns 58,012 shares of the medical equipment provider’s stock worth $3,584,000 after acquiring an additional 4,684 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other 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.