Hologic, Inc. (NASDAQ:HOLX) – Analysts at SVB Leerink raised their FY2020 earnings per share (EPS) estimates for Hologic in a research report issued to clients and investors on Monday, October 12th. SVB Leerink analyst R. Newitter now forecasts that the medical equipment provider will post earnings per share of $3.31 for the year, up from their previous forecast of $2.94. SVB Leerink has a “Outperform” rating and a $80.00 price objective on the stock. SVB Leerink also issued estimates for Hologic’s Q4 2020 earnings at $1.39 EPS, Q1 2021 earnings at $1.21 EPS, FY2021 earnings at $4.26 EPS and FY2022 earnings at $3.65 EPS. Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.37. The company had revenue of $822.90 million for the quarter, compared to analyst estimates of $622.96 million. Hologic had a return on equity of 31.40% and a net margin of 20.03%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share.
HOLX has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price target on shares of Hologic in a research note on Wednesday, August 26th. Morgan Stanley upped their price target on Hologic from $55.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Wells Fargo & Company upped their price target on Hologic from $63.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Cowen raised Hologic from a “market perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, June 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $84.00 price target (up previously from $63.00) on shares of Hologic in a research note on Wednesday, July 29th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $67.36.
Shares of Hologic stock opened at $67.67 on Wednesday. Hologic has a 52 week low of $26.49 and a 52 week high of $73.63. The business’s fifty day simple moving average is $63.53 and its 200-day simple moving average is $56.14. The firm has a market cap of $17.53 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34. The company has a quick ratio of 1.17, a current ratio of 1.47 and a debt-to-equity ratio of 1.22.
In other Hologic news, insider Benjamin Jordan Cohn sold 4,924 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $71.24, for a total transaction of $350,785.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. increased its holdings in Hologic by 37.5% during the 3rd quarter. North Star Investment Management Corp. now owns 550 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 150 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in Hologic by 230.3% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 6,870 shares of the medical equipment provider’s stock worth $179,000 after purchasing an additional 4,790 shares during the period. Envestnet Asset Management Inc. increased its holdings in Hologic by 9.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 44,423 shares of the medical equipment provider’s stock worth $2,953,000 after purchasing an additional 3,713 shares during the period. Hall Laurie J Trustee purchased a new stake in Hologic during the 3rd quarter worth about $105,000. Finally, Exane Derivatives increased its holdings in Hologic by 5.6% during the 3rd quarter. Exane Derivatives now owns 7,852 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 416 shares during the period. Institutional investors own 93.69% of the company’s stock.
Hologic Company Profile
Hologic, Inc, a medical technology company, develops,…