Hologic (NASDAQ:HOLX) Rating Increased to Buy at Bank of America

Hologic (NASDAQ:HOLX) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, January 4th, MarketBeat Ratings reports. The firm currently has a $50.00 price objective on the medical equipment provider’s stock. Bank of America’s target price would indicate a potential upside of 14.78% from the stock’s previous close.

A number of other brokerages have also recently commented on HOLX. Evercore ISI started coverage on shares of Hologic in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $50.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price (up from $46.00) on shares of Hologic in a research note on Tuesday, December 5th. Royal Bank of Canada restated a “hold” rating and set a $42.00 price objective on shares of Hologic in a research report on Friday, September 22nd. Cowen upgraded shares of Hologic to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, December 20th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $44.00 target price (down previously from $49.00) on shares of Hologic in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $48.79.

Hologic (NASDAQ:HOLX) opened at $43.56 on Thursday. Hologic has a fifty-two week low of $35.76 and a fifty-two week high of $46.80. The firm has a market cap of $12,010.00, a PE ratio of 16.50, a PEG ratio of 2.01 and a beta of 0.95. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 0.79.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, November 8th. The medical equipment provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Hologic had a net margin of 24.70% and a return on equity of 21.69%. The company had revenue of $802.90 million for the quarter, compared to analyst estimates of $792.54 million. During the same quarter in the prior year, the business posted $0.52 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. sell-side analysts forecast that Hologic will post 2.13 EPS for the current fiscal year.

In other news, VP Karleen Marie Oberton sold 1,256 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $39.29, for a total value of $49,348.24. Following the transaction, the vice president now owns 9,406 shares of the company’s stock, valued at $369,561.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elaine Ullian sold 9,282 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $40.50, for a total transaction of $375,921.00. The disclosure for this sale can be found here. Insiders sold 12,099 shares of company stock valued at $487,223 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in shares of Hologic by 115.8% in the third 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 grew its holdings in shares of Hologic by 10.2% in the second 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 grew its holdings in shares of Hologic by 31.0% in the second 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 second quarter worth about $191,000. Finally, National Asset Management Inc. bought a new position in shares of Hologic in the second quarter worth about $203,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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About Hologic

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.

Analyst Recommendations for Hologic (NASDAQ:HOLX)

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