Hologic (HOLX) Upgraded to Buy at Zacks Investment Research

Hologic (NASDAQ:HOLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $43.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.76% from the company’s previous close.

According to Zacks, “Hologic posted better-than-expected results in first-quarter fiscal 2018 primarily on strength in the Molecular Diagnostics. Growth across all geographical regions buoys optimism. Breast Health performed well based on differentiated products. We are upbeat about the recent CE Mark approval for Brevera breast biopsy system. Also, the PMA approval for the Aptima HBV Quant Assay for quantitation of hepatitis B viral load on the fully automated Panther system buoys optimism. Hologic’s strong cash position is encouraging. On the flip side, the blood screening divestiture continues to impede growth. Foreign currency headwinds and a competitive landscape also continue to pose challenges for the company. Over the past three months, Hologic has been trading below the broader industry.”

Other equities analysts have also issued reports about the company. BidaskClub lowered Hologic from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Hologic in a report on Thursday, February 1st. Evercore ISI assumed coverage on Hologic in a report on Wednesday, January 3rd. They set an “outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus lowered Hologic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $42.00 in a report on Friday. Finally, Cowen raised Hologic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Monday, December 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $48.00.

Shares of Hologic (NASDAQ HOLX) traded down $0.24 during midday trading on Tuesday, reaching $37.80. The company’s stock had a trading volume of 3,386,140 shares, compared to its average volume of 3,002,268. Hologic has a 1-year low of $35.33 and a 1-year high of $46.80. The company has a market capitalization of $10,438.97, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Hologic had a return on equity of 20.07% and a net margin of 34.53%. The business had revenue of $791.10 million during the quarter, compared to analyst estimates of $785.80 million. During the same period in the prior year, the company earned $0.52 earnings per share. Hologic’s revenue was up 7.7% compared to the same quarter last year. equities research analysts anticipate that Hologic will post 2.25 earnings per share for the current fiscal year.

In other news, VP Karleen Marie Oberton sold 1,023 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $39.84, for a total value of $40,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. boosted its stake in Hologic by 1.4% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 244,620 shares of the medical equipment provider’s stock valued at $8,975,000 after buying an additional 3,391 shares during the period. Janus Henderson Group PLC boosted its stake in Hologic by 15.5% during the third quarter. Janus Henderson Group PLC now owns 285,035 shares of the medical equipment provider’s stock valued at $10,458,000 after buying an additional 38,283 shares during the period. Cipher Capital LP boosted its stake in Hologic by 57.9% during the third quarter. Cipher Capital LP now owns 117,673 shares of the medical equipment provider’s stock valued at $4,317,000 after buying an additional 43,146 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Hologic by 66.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,487 shares of the medical equipment provider’s stock valued at $458,000 after buying an additional 4,984 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Hologic by 379.5% during the third quarter. GSA Capital Partners LLP now owns 63,760 shares of the medical equipment provider’s stock valued at $2,339,000 after buying an additional 50,463 shares during the period. 93.84% of the stock is owned by institutional investors.

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About Hologic

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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