Argus Increases Hologic (NASDAQ:HOLX) Price Target to $62.00

Hologic (NASDAQ:HOLX) had its target price lifted by Argus to $62.00 in a research note published on Wednesday, The Fly reports. Argus currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently issued reports on HOLX. Canaccord Genuity reaffirmed a hold rating and issued a $52.00 target price on shares of Hologic in a report on Thursday, August 1st. BidaskClub raised shares of Hologic from a hold rating to a buy rating in a report on Saturday, July 27th. ValuEngine cut shares of Hologic from a buy rating to a hold rating in a report on Thursday, August 1st. BTIG Research reaffirmed a buy rating and issued a $52.00 target price on shares of Hologic in a report on Thursday, August 1st. Finally, TheStreet raised shares of Hologic from a c+ rating to a b rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Hologic has a consensus rating of Hold and a consensus target price of $48.52.

Shares of NASDAQ:HOLX opened at $50.45 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 1.27. The company has a market cap of $13.32 billion, a P/E ratio of 22.62, a PEG ratio of 2.26 and a beta of 0.74. Hologic has a 52 week low of $37.47 and a 52 week high of $52.19. The company has a 50-day moving average price of $48.89 and a 200 day moving average price of $46.89.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Wednesday, July 31st. The medical equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $852.40 million during the quarter, compared to the consensus estimate of $836.91 million. Hologic had a negative net margin of 0.89% and a positive return on equity of 27.95%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. Analysts expect that Hologic will post 2.44 EPS for the current year.

In other Hologic news, insider Peter J. Valenti III sold 4,545 shares of Hologic stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.07, for a total value of $200,298.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stephen P. Macmillan sold 194,396 shares of Hologic stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $48.77, for a total transaction of $9,480,692.92. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its stake in Hologic by 3,466.7% in the 2nd quarter. CWM LLC now owns 535 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 520 shares during the period. Horan Capital Advisors LLC. purchased a new stake in Hologic in the 1st quarter worth approximately $33,000. First Interstate Bank purchased a new stake in Hologic in the 1st quarter worth approximately $40,000. CSat Investment Advisory L.P. grew its stake in Hologic by 66.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 831 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 333 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Hologic by 1,363.2% in the 1st quarter. Quadrant Capital Group LLC now owns 995 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 927 shares during the period. 96.43% of the stock is 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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