Hologic (NASDAQ:HOLX) Sets New 12-Month Low – Here’s Why

Shares of Hologic, Inc. (NASDAQ:HOLX) reached a new 52-week low on Friday . The company traded as low as $70.36 and last traded at $71.07, with a volume of 286244 shares. The stock had previously closed at $70.76.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HOLX. JPMorgan Chase & Co. raised their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wolfe Research initiated coverage on shares of Hologic in a research report on Friday, December 13th. They set a “peer perform” rating for the company. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup cut shares of Hologic from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Finally, BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Hologic presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Hologic Trading Up 1.3 %

The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $16.26 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The company has a fifty day simple moving average of $78.49 and a two-hundred day simple moving average of $78.50.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter in the previous year, the business posted $0.89 EPS. Hologic’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In other news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction dated 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 directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOLX. Innealta Capital LLC bought a new position in shares of Hologic in the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC acquired a new stake in Hologic in the 3rd quarter valued at about $25,000. Groupama Asset Managment grew its holdings in Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 2,999 shares during the period. Sunbelt Securities Inc. acquired a new position in Hologic during the second quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. increased its position in Hologic by 38.3% during the third 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 during the last quarter. 94.73% of the stock is owned by institutional investors.

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.