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

Hologic, Inc. (NASDAQ:HOLX)’s share price reached 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. The stock had previously closed at $64.47.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. William Blair restated an “outperform” rating on shares of Hologic in a research report on Thursday, February 6th. BNP Paribas upgraded Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Morgan Stanley reduced their target price on Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Stephens restated an “overweight” rating and set a $84.00 target price on shares of Hologic in a research report on Thursday, February 6th. Finally, Royal Bank of Canada cut their price objective on Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hologic presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Hologic Price Performance

The company has a market capitalization of $14.36 billion, a PE ratio of 20.07, a PEG ratio of 2.14 and a beta of 0.97. The firm has a fifty day moving average of $71.28 and a two-hundred day moving average of $77.37. The company has a current ratio of 3.49, a quick ratio of 3.03 and a debt-to-equity ratio of 0.52.

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, beating 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%. Research analysts anticipate that Hologic, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HOLX. FMR LLC raised its position in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after acquiring an additional 2,174,093 shares in the last quarter. Norges Bank bought a new position in shares of Hologic in the 4th quarter worth approximately $133,414,000. Boston Partners raised its position in shares of Hologic by 81.0% in the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider’s stock worth $257,959,000 after acquiring an additional 1,602,463 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Hologic in the 4th quarter worth approximately $79,291,000. Finally, Invesco Ltd. raised its position in shares of Hologic by 16.4% in the 4th quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider’s stock worth $293,434,000 after acquiring an additional 572,187 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.