Zacks Investment Research upgraded shares of Hologic, Inc. (NASDAQ:HOLX) from a sell rating to a hold rating in a research note released on Tuesday.
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 commented on HOLX. Royal Bank Of Canada reissued a sector perform rating and issued a $45.00 price target (down from $50.00) on shares of Hologic in a report on Wednesday, August 9th. BidaskClub downgraded shares of Hologic from a hold rating to a sell rating in a report on Wednesday, August 9th. Barclays PLC reissued an equal weight rating and issued a $51.00 price target (down from $53.00) on shares of Hologic in a report on Wednesday, August 9th. Needham & Company LLC reissued a buy rating on shares of Hologic in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a buy rating and issued a $51.00 price target on shares of Hologic in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Hologic currently has an average rating of Buy and a consensus target price of $47.77.
Shares of Hologic (HOLX) traded up 1.00% during midday trading on Tuesday, hitting $38.23. The company had a trading volume of 1,571,285 shares. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 14.24 and a beta of 0.91. Hologic has a 12-month low of $35.15 and a 12-month high of $46.80. The company’s 50-day moving average price is $37.20 and its 200 day moving average price is $41.41.
Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Hologic had a net margin of 25.65% and a return on equity of 23.18%. The firm had revenue of $806.10 million during the quarter, compared to the consensus estimate of $799.70 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Hologic will post $2.01 earnings per share for the current fiscal year.
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In other Hologic news, Director Lawrence M. Levy sold 7,138 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $37.38, for a total value of $266,818.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence M. Levy sold 9,596 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $36.81, for a total transaction of $353,228.76. 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 over the last ninety days. 0.79% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of HOLX. Capital World Investors bought a new stake in Hologic in the second quarter worth $312,441,000. HealthCor Management L.P. bought a new stake in Hologic in the second quarter worth $76,604,000. Columbus Circle Investors bought a new stake in Hologic in the second quarter worth $54,511,000. Vanguard Group Inc. lifted its stake in Hologic by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,547,138 shares of the medical equipment provider’s stock worth $1,340,850,000 after purchasing an additional 1,200,825 shares during the last quarter. Finally, Koch Industries Inc. lifted its stake in Hologic by 15,554.1% in the second 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 last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.
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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