Hologic, Inc. (HOLX) Stock Price Down 1.6% on Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX) shares traded down 1.6% on Friday after Barclays PLC lowered their price target on the stock from $53.00 to $51.00. Barclays PLC currently has an overweight rating on the stock. Hologic traded as low as $39.29 and last traded at $39.28, with a volume of 3,108,536 shares changing hands. The stock had previously closed at $39.91.

A number of other research analysts also recently weighed in on the stock. Deutsche Bank AG cut their price target on shares of Hologic from $51.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Goldman Sachs Group, Inc. (The) downgraded shares of Hologic from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $48.00 to $47.00 in a report on Thursday. Royal Bank Of Canada cut their price target on shares of Hologic from $50.00 to $45.00 and set a “sector perform” rating on the stock in a report on Thursday. BidaskClub downgraded shares of Hologic from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Hologic in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Hologic currently has a consensus rating of “Buy” and a consensus target price of $48.64.

In other news, Director Lawrence M. Levy sold 9,837 shares of Hologic stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $45.34, for a total transaction of $446,009.58. Following the sale, the director now directly owns 40,577 shares in the company, valued at approximately $1,839,761.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence M. Levy sold 2,960 shares of Hologic stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $44.54, for a total transaction of $131,838.40. Following the sale, the director now owns 45,634 shares in the company, valued at $2,032,538.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,562 shares of company stock worth $2,802,013. 0.79% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of HOLX. Russell Investments Group Ltd. raised its stake in shares of Hologic by 229.7% in the second quarter. Russell Investments Group Ltd. now owns 1,059,586 shares of the medical equipment provider’s stock valued at $48,100,000 after buying an additional 738,215 shares during the period. Earnest Partners LLC raised its stake in shares of Hologic by 168,145.9% in the first quarter. Earnest Partners LLC now owns 205,260 shares of the medical equipment provider’s stock valued at $8,734,000 after buying an additional 205,138 shares during the period. Swiss National Bank raised its stake in shares of Hologic by 23.4% in the first quarter. Swiss National Bank now owns 1,028,124 shares of the medical equipment provider’s stock valued at $43,747,000 after buying an additional 195,100 shares during the period. Teachers Advisors LLC raised its stake in shares of Hologic by 36.4% in the first quarter. Teachers Advisors LLC now owns 877,549 shares of the medical equipment provider’s stock valued at $37,340,000 after buying an additional 234,002 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Hologic by 5.0% in the second quarter. Aperio Group LLC now owns 82,449 shares of the medical equipment provider’s stock valued at $3,742,000 after buying an additional 3,914 shares during the period. Institutional investors and hedge funds own 94.32% of the company’s stock.

The firm’s 50 day moving average is $45.06 and its 200 day moving average is $42.98. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 14.62 and a beta of 0.90.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Hologic had a net margin of 25.65% and a return on equity of 23.18%. The business had revenue of $806.10 million for the quarter, compared to analyst estimates of $799.70 million. During the same period last year, the firm earned $0.51 earnings per share. Hologic’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Hologic, Inc. will post $2.01 earnings per share for the current year.

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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.