Hologic (HOLX) Stock Rating Upgraded by Zacks Investment Research

Hologic (NASDAQ:HOLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage currently has a $50.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.48% from the stock’s current price.

According to Zacks, “Hologic exited the second quarter of fiscal 2019 on a solid note. The strong top-line growth was led by solid year-over-year rise in core businesses like Breast Health and Molecular Diagnostics. We are also upbeat about the recent launches like Aptima Mycoplasma genitalium assay and the Unifi Analytics business intelligence tool for mammography centers in the United States, Omnhysteroscope in Europe and Canada, and LOCalize wireless breast lesion localization system in Europe. Hologic has outperformed its industry over the past three months. On the flip side, Hologic's Faxitron and Focal integration related costs are mounting. These have continued to exert pressure on the company's operating margin. This apart volume environment for testing laboratories and utilization weaknesses are looming headwinds. Also, the company operating in a highly competitive landscape is a concern.”

A number of other brokerages have also weighed in on HOLX. ValuEngine lowered Hologic from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Piper Jaffray Companies increased their price target on Hologic to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 31st. TheStreet lowered Hologic from a “b” rating to a “c+” rating in a research note on Wednesday, May 1st. BidaskClub lowered Hologic from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of Hologic in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.33.

Shares of Hologic stock opened at $44.85 on Monday. Hologic has a fifty-two week low of $37.47 and a fifty-two week high of $48.82. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.02 and a current ratio of 1.45.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, May 1st. The medical equipment provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Hologic had a positive return on equity of 26.73% and a negative net margin of 0.32%. The company had revenue of $818.40 million for the quarter, compared to analyst estimates of $806.99 million. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts expect that Hologic will post 2.42 earnings per share for the current fiscal year.

In related news, insider Benjamin Jordan Cohn sold 6,830 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $46.70, for a total value of $318,961.00. Following the transaction, the insider now directly owns 22,002 shares of the company’s stock, valued at approximately $1,027,493.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter J. Valenti III sold 4,242 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $47.38, for a total value of $200,985.96. The disclosure for this sale can be found here. Insiders sold a total of 23,378 shares of company stock worth $1,105,836 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc increased its holdings in Hologic by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 28,259,273 shares of the medical equipment provider’s stock valued at $1,158,065,000 after purchasing an additional 303,902 shares in the last quarter. Parnassus Investments CA increased its holdings in Hologic by 0.6% in the 1st quarter. Parnassus Investments CA now owns 15,640,395 shares of the medical equipment provider’s stock valued at $756,995,000 after purchasing an additional 100,833 shares in the last quarter. FMR LLC increased its holdings in Hologic by 419.2% in the 1st quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock valued at $641,996,000 after purchasing an additional 10,709,693 shares in the last quarter. Geode Capital Management LLC increased its holdings in Hologic by 8.1% in the 1st quarter. Geode Capital Management LLC now owns 4,112,377 shares of the medical equipment provider’s stock valued at $198,715,000 after purchasing an additional 307,048 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Hologic by 2.2% in the 1st quarter. Northern Trust Corp now owns 3,276,578 shares of the medical equipment provider’s stock valued at $158,587,000 after purchasing an additional 69,596 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

About Hologic

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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