Hologic (HOLX) Rating Increased to Buy at Cowen

Hologic (NASDAQ:HOLX) was upgraded by research analysts at Cowen to a “buy” rating in a research note issued on Wednesday. The firm presently has a $52.00 target price on the medical equipment provider’s stock. Cowen’s target price would indicate a potential upside of 19.57% from the stock’s previous close.

HOLX has been the subject of a number of other reports. Zacks Investment Research cut Hologic from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Hologic in a report on Monday, October 2nd. Goldman Sachs Group raised Hologic from a “buy” rating to a “conviction-buy” rating and raised their price target for the company from $45.00 to $50.00 in a report on Friday, December 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 price target (down from $48.00) on shares of Hologic in a report on Monday, October 9th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $44.00 price target (down from $49.00) on shares of Hologic in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Hologic currently has a consensus rating of “Buy” and an average target price of $47.93.

Shares of Hologic (NASDAQ HOLX) traded up $0.13 on Wednesday, hitting $43.49. The stock had a trading volume of 2,161,100 shares, compared to its average volume of 2,778,781. Hologic has a fifty-two week low of $35.76 and a fifty-two week high of $46.80. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.61 and a current ratio of 0.79. The firm has a market cap of $11,953.64, a PE ratio of 21.47, a PEG ratio of 2.09 and a beta of 0.95.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, November 8th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Hologic had a return on equity of 11.74% and a net margin of 10.30%. The business had revenue of $802.90 million during the quarter, compared to analysts’ expectations of $792.54 million. During the same period in the prior year, the firm posted $0.52 EPS. Hologic’s quarterly revenue was up 10.5% compared to the same quarter last year. analysts anticipate that Hologic will post 2.12 earnings per share for the current fiscal year.

In other news, Director Lawrence M. Levy sold 7,138 shares of Hologic stock in a transaction on Monday, October 9th. The stock was sold at an average price of $37.38, for a total value of $266,818.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Karleen Marie Oberton sold 1,023 shares of Hologic stock in a transaction on Monday, November 20th. The shares were sold at an average price of $39.84, for a total value of $40,756.32. The disclosure for this sale can be found here. Insiders sold a total of 28,833 shares of company stock valued at $1,107,270 over the last three months. Insiders own 0.79% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Hologic by 115.8% in the 3rd quarter. Grove Bank & Trust now owns 2,860 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 1,535 shares during the last quarter. Hall Laurie J Trustee boosted its position in shares of Hologic by 10.2% in the 2nd quarter. Hall Laurie J Trustee now owns 2,425 shares of the medical equipment provider’s stock worth $110,000 after purchasing an additional 225 shares during the last quarter. Commonwealth Bank of Australia boosted its position in shares of Hologic by 31.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,533 shares of the medical equipment provider’s stock worth $114,000 after purchasing an additional 600 shares during the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Hologic in the 2nd quarter worth $191,000. Finally, National Asset Management Inc. bought a new position in shares of Hologic in the 2nd quarter worth $203,000. 97.67% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was originally published by American Banking and Market News and is owned by of American Banking and Market News. If you are reading this story on another domain, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/20/hologic-holx-rating-increased-to-buy-at-cowen.html.

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.