Hologic (NASDAQ:HOLX) Upgraded to B at TheStreet

TheStreet upgraded shares of Hologic (NASDAQ:HOLX) from a c+ rating to a b rating in a research report sent to investors on Wednesday morning, TheStreetRatingsTable reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Hologic from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Wednesday, May 29th. Piper Jaffray Companies increased their target price on Hologic from $49.00 to $59.00 and gave the company an overweight rating in a research note on Thursday. ValuEngine cut Hologic from a buy rating to a hold rating in a research note on Thursday. Needham & Company LLC reissued a buy rating and issued a $57.00 target price (up previously from $52.00) on shares of Hologic in a research note on Thursday. Finally, BTIG Research reissued a buy rating and issued a $52.00 target price on shares of Hologic in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Hologic currently has a consensus rating of Hold and a consensus price target of $46.77.

Shares of NASDAQ:HOLX traded down $0.58 during trading on Wednesday, hitting $50.25. 1,379,905 shares of the company were exchanged, compared to its average volume of 1,700,057. The firm has a market cap of $13.80 billion, a P/E ratio of 22.53, a PEG ratio of 2.38 and a beta of 0.72. The firm’s 50 day moving average is $48.43. Hologic has a 52-week low of $37.47 and a 52-week high of $52.19. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 1.31.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, July 31st. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $836.91 million. Hologic had a negative net margin of 0.32% and a positive return on equity of 26.73%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, analysts anticipate that Hologic will post 2.42 earnings per share for the current fiscal year.

In other news, insider Peter J. Valenti III sold 4,545 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.07, for a total transaction of $200,298.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new stake in shares of Hologic during the second quarter worth about $576,000. Contravisory Investment Management Inc. purchased a new stake in shares of Hologic during the first quarter worth about $373,000. Stephens Investment Management Group LLC boosted its holdings in shares of Hologic by 0.6% during the first quarter. Stephens Investment Management Group LLC now owns 693,183 shares of the medical equipment provider’s stock worth $33,550,000 after purchasing an additional 4,176 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Hologic by 17.5% during the first quarter. Toronto Dominion Bank now owns 192,929 shares of the medical equipment provider’s stock worth $9,336,000 after purchasing an additional 28,706 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Hologic by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 3,805,329 shares of the medical equipment provider’s stock worth $156,146,000 after purchasing an additional 190,788 shares during the period. 96.45% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Hologic (NASDAQ:HOLX)

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