Hologic (NASDAQ:HOLX) Downgraded by Argus to “Hold”

Hologic (NASDAQ:HOLX) was downgraded by investment analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Finviz reports.

Several other research firms also recently weighed in on HOLX. Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Leerink Partners lifted their price objective on Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Raymond James Financial cut Hologic from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. Finally, Evercore ISI cut shares of Hologic from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $79.00 to $78.00 in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, Hologic has a consensus rating of “Hold” and an average price target of $79.29.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $74.87 on Monday. The company has a market cap of $16.69 billion, a PE ratio of 30.19, a P/E/G ratio of 2.12 and a beta of 0.69. Hologic has a fifty-two week low of $51.90 and a fifty-two week high of $75.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.06 and a current ratio of 3.75. The business has a 50-day simple moving average of $74.64 and a two-hundred day simple moving average of $69.89.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.01 EPS. As a group, equities analysts expect that Hologic will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christiana Stamoulis sold 7,402 shares of Hologic stock in a transaction 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 of the company’s stock, valued at $3,458,841.52. The trade was a 13.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hologic

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its stake in shares of Hologic by 294.3% in the 2nd 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 in the last quarter. Invesco Ltd. raised its holdings in Hologic by 72.5% in the second quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after buying an additional 3,505,828 shares during the period. Geode Capital Management LLC lifted its position in Hologic by 1.7% during the second quarter. Geode Capital Management LLC now owns 5,828,325 shares of the medical equipment provider’s stock valued at $378,209,000 after buying an additional 97,142 shares in the last quarter. Black Creek Investment Management Inc. grew its stake in Hologic by 26.1% during the second quarter. Black Creek Investment Management Inc. now owns 4,027,829 shares of the medical equipment provider’s stock worth $262,453,000 after buying an additional 832,444 shares during the period. Finally, Bank of America Corp DE grew its stake in Hologic by 2.2% during the second quarter. Bank of America Corp DE now owns 3,090,306 shares of the medical equipment provider’s stock worth $201,364,000 after buying an additional 66,453 shares during the period. 94.73% of the stock is 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.