Hologic (NASDAQ:HOLX) Hits New 12-Month Low – Should You Sell?

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $61.42 and last traded at $61.55, with a volume of 144189 shares. The stock had previously closed at $62.59.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Hologic in a report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price objective on the stock. Argus cut Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Stephens restated an “overweight” rating and set a $84.00 price objective on shares of Hologic in a research note on Thursday, February 6th. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Evercore ISI decreased their price target on shares of Hologic from $76.00 to $73.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Hologic currently has a consensus rating of “Hold” and an average price target of $84.62.

Hologic Stock Performance

The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $67.87 and a 200 day simple moving average of $75.04. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.14 and a beta of 0.97.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share 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%. As a group, analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hologic

Several large investors have recently made changes to their positions in HOLX. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hologic in the 4th quarter worth approximately $28,269,000. Jefferies Financial Group Inc. grew its stake in shares of Hologic by 141.5% in the fourth quarter. Jefferies Financial Group Inc. now owns 96,849 shares of the medical equipment provider’s stock worth $6,982,000 after purchasing an additional 56,742 shares in the last quarter. Forum Financial Management LP bought a new stake in shares of Hologic during the fourth quarter valued at about $324,000. Toronto Dominion Bank lifted its holdings in Hologic by 7.9% in the fourth quarter. Toronto Dominion Bank now owns 124,308 shares of the medical equipment provider’s stock worth $8,961,000 after purchasing an additional 9,076 shares during the period. Finally, North Star Asset Management Inc. grew its position in Hologic by 0.3% in the 4th quarter. North Star Asset Management Inc. now owns 252,857 shares of the medical equipment provider’s stock valued at $18,228,000 after buying an additional 687 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Hologic

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.