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

Hologic, Inc. (NASDAQ:HOLX)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $55.89 and last traded at $57.17, with a volume of 6818925 shares traded. The stock had previously closed at $56.50.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HOLX shares. Stephens reiterated an “overweight” rating and set a $84.00 target price on shares of Hologic in a report on Thursday, February 6th. Argus lowered Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Evercore ISI lowered their price objective on shares of Hologic from $76.00 to $73.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. William Blair restated an “outperform” rating on shares of Hologic in a report on Thursday, February 6th. Finally, Citigroup lowered their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.62.

Hologic Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 2.14 and a beta of 0.82. The firm’s 50-day simple moving average is $61.58 and its 200 day simple moving average is $70.70.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Equities analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current year.

Institutional Trading of Hologic

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Hologic by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock valued at $412,159,000 after acquiring an additional 144,838 shares during the period. Victory Capital Management Inc. boosted its holdings 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 valued at $354,506,000 after acquiring an additional 24,358 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in 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. Invesco Ltd. lifted 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 purchasing an additional 572,187 shares during the period. Finally, Boston Partners increased its position in shares of Hologic by 81.0% during the fourth quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider’s stock worth $257,959,000 after buying an additional 1,602,463 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

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.