Hologic (NASDAQ:HOLX) Sets New 1-Year Low After Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week low on Tuesday after Citigroup lowered their price target on the stock from $80.00 to $70.00. Citigroup currently has a neutral rating on the stock. Hologic traded as low as $62.63 and last traded at $62.98, with a volume of 203648 shares trading hands. The stock had previously closed at $63.27.

HOLX has been the subject of several other reports. Jefferies Financial Group assumed coverage on Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price objective for the company. UBS Group increased their price target on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wolfe Research initiated coverage on shares of Hologic in a research note on Friday, December 13th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Hologic presently has an average rating of “Hold” and an average target price of $84.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Hologic by 0.8% in the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock valued at $847,944,000 after buying an additional 81,057 shares during the period. Geode Capital Management LLC lifted its stake in Hologic by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock worth $412,159,000 after acquiring an additional 144,838 shares during the last quarter. FMR LLC lifted its stake in Hologic by 64.0% in the third 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 during the last quarter. Victory Capital Management Inc. lifted its stake in Hologic by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock worth $354,506,000 after acquiring an additional 24,358 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Hologic by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider’s stock worth $322,272,000 after purchasing an additional 129,035 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Trading Down 1.5 %

The firm has a market capitalization of $13.98 billion, a PE ratio of 19.65, a PEG ratio of 2.14 and a beta of 0.97. The company’s 50-day moving average price is $68.77 and its 200-day moving average price is $75.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49.

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 analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. On average, sell-side analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current year.

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.