Hologic, Inc. (NASDAQ:HOLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Hologic has been trading below the broader industry over the last six months. Moreover, the lowered guidance suggests dull prospects. Furthermore, the blood screening divestiture is expected to impede the company’s growth momentum in the days ahead. Foreign currency headwinds and a competitive landscape also continue to pose challenges. On a positive note, Hologic is optimistic about the recent commercial launch of the Brevera breast biopsy system in the United States. The company has been witnessing strength in the molecular diagnostics and GYN Surgical businesses. Moreover, sales are driven by the company’s recent receipt of CE mark for its new Panther Fusion system and Panther Fusion assays for flu and respiratory testing.”

Several other research analysts also recently weighed in on HOLX. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 target price (down previously from $50.00) on shares of Hologic in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Hologic from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Barclays PLC reissued an “equal weight” rating and issued a $51.00 target price (down previously from $53.00) on shares of Hologic in a research note on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating on shares of Hologic in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $51.00 target price on shares of Hologic in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.77.

Shares of Hologic (NASDAQ:HOLX) traded up 0.662% during midday trading on Monday, hitting $37.255. 990,779 shares of the company were exchanged. The company has a 50-day moving average price of $37.48 and a 200-day moving average price of $41.68. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 13.875 and a beta of 0.91. Hologic has a 52-week low of $35.15 and a 52-week high of $46.80.

Hologic (NASDAQ:HOLX) last announced its earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. Hologic had a net margin of 7.38% and a return on equity of 8.43%. The firm had revenue of $806.10 million during the quarter, compared to the consensus estimate of $799.70 million. During the same quarter in the previous year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts forecast that Hologic will post $2.01 EPS for the current year.

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In other news, Director Lawrence M. Levy sold 7,139 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $39.04, for a total transaction of $278,706.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elaine Ullian sold 6,902 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $40.12, for a total value of $276,908.24. Following the sale, the director now owns 23,810 shares of the company’s stock, valued at approximately $955,257.20. The disclosure for this sale can be found here. Insiders have sold a total of 30,775 shares of company stock valued at $1,175,662 in the last quarter. Company insiders own 0.79% of the company’s stock.

Large investors have recently modified their holdings of the company. Koch Industries Inc. grew its holdings in shares of Hologic by 15,554.1% during the 2nd quarter. Koch Industries Inc. now owns 1,149,481 shares of the medical equipment provider’s stock worth $1,125,000 after purchasing an additional 1,142,138 shares during the period. Picton Mahoney Asset Management boosted its holdings in Hologic by 8.1% in the 2nd quarter. Picton Mahoney Asset Management now owns 57,150 shares of the medical equipment provider’s stock worth $2,593,000 after acquiring an additional 4,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in Hologic by 229.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,059,586 shares of the medical equipment provider’s stock worth $48,100,000 after acquiring an additional 738,215 shares during the period. Swiss National Bank boosted its holdings in Hologic by 12.8% in the 2nd quarter. Swiss National Bank now owns 1,159,424 shares of the medical equipment provider’s stock worth $52,615,000 after acquiring an additional 131,300 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Hologic by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 548,465 shares of the medical equipment provider’s stock worth $24,889,000 after acquiring an additional 7,727 shares during the period. Institutional investors and hedge funds own 96.38% of the company’s stock.

Hologic Company Profile

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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