Hologic (NASDAQ:HOLX) Given New $87.00 Price Target at Mizuho

Hologic (NASDAQ:HOLX) had its price objective reduced by investment analysts at Mizuho from $90.00 to $87.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s price target indicates a potential upside of 8.09% from the stock’s current price.

Several other brokerages have also recently weighed in on HOLX. JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday, October 15th. Raymond James boosted their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $85.00 in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their target price on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.

Hologic Stock Up 2.1 %

Shares of NASDAQ HOLX opened at $80.49 on Tuesday. The company has a 50 day simple moving average of $81.05 and a 200 day simple moving average of $78.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic has a 1 year low of $66.93 and a 1 year high of $84.67. The firm has a market cap of $18.70 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 3.03 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 20.11%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. On average, research analysts forecast that Hologic will post 4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after acquiring an additional 2,753,016 shares during the period. The Manufacturers Life Insurance Company grew its position in Hologic by 21.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after purchasing an additional 450,190 shares during the period. Black Creek Investment Management Inc. increased its stake in Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after purchasing an additional 885,524 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hologic by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock worth $172,780,000 after buying an additional 124,739 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Hologic by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider’s stock valued at $168,666,000 after buying an additional 87,176 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.