Hologic (NASDAQ:HOLX) Price Target Cut to $65.00 by Analysts at Morgan Stanley

Hologic (NASDAQ:HOLX) had its target price reduced by stock analysts at Morgan Stanley from $77.00 to $65.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 22.29% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI reduced their price target on shares of Hologic from $65.00 to $62.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Hologic in a report on Friday, May 2nd. Stephens reaffirmed an “overweight” rating and issued a $84.00 price target on shares of Hologic in a report on Thursday, February 6th. Citigroup reduced their price objective on Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Leerink Partnrs lowered Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.85.

Hologic Stock Up 0.8 %

Shares of HOLX stock opened at $53.15 on Monday. The stock has a market cap of $11.93 billion, a P/E ratio of 16.77, a PEG ratio of 2.14 and a beta of 0.54. The company’s fifty day simple moving average is $59.85 and its two-hundred day simple moving average is $68.78. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. Hologic has a 52 week low of $51.90 and a 52 week high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. Analysts predict that Hologic will post 4.28 EPS for the current fiscal year.

Institutional Trading of Hologic

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock valued at $408,283,000 after buying an additional 1,692,177 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hologic by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock valued at $412,159,000 after acquiring an additional 144,838 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Hologic by 3.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider’s stock valued at $322,272,000 after purchasing an additional 129,035 shares during the period. Invesco Ltd. grew its stake in Hologic by 16.4% in the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider’s stock worth $293,434,000 after purchasing an additional 572,187 shares in the last quarter. Finally, Boston Partners increased its holdings in Hologic by 81.0% during the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider’s stock worth $257,959,000 after purchasing an additional 1,602,463 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.