Hologic (NASDAQ:HOLX) Hits New 1-Year Low – What’s Next?

Hologic, Inc. (NASDAQ:HOLX)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $63.57 and last traded at $63.87, with a volume of 140290 shares trading hands. The stock had previously closed at $64.47.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HOLX shares. UBS Group raised their target price on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Raymond James restated an “outperform” rating and set a $90.00 price objective (down previously from $95.00) on shares of Hologic in a research note on Thursday, February 6th. Needham & Company LLC lowered Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Monday, February 3rd. Morgan Stanley lowered their price objective on Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, BNP Paribas upgraded Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Hologic Trading Down 0.5 %

The firm has a market cap of $14.48 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.03 and a current ratio of 3.49. The firm has a fifty day moving average of $71.80 and a 200-day moving average of $77.57.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. Equities research analysts forecast that Hologic, Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. The trade was a 47.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.88% of the stock is owned by company insiders.

Institutional Trading of Hologic

Hedge funds have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC bought a new stake in shares of Hologic in the 3rd quarter worth $25,000. General Partner Inc. bought a new stake in shares of Hologic in the 4th quarter worth $26,000. Venturi Wealth Management LLC raised its stake in shares of Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 shares in the last quarter. Finally, Cromwell Holdings LLC raised its stake in shares of Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 416 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.