Hologic (NASDAQ:HOLX) Hits New 12-Month Low After Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX) shares reached a new 52-week low on Thursday after Evercore ISI lowered their price target on the stock from $76.00 to $73.00. Evercore ISI currently has an in-line rating on the stock. Hologic traded as low as $66.56 and last traded at $67.05, with a volume of 463757 shares. The stock had previously closed at $72.80.

HOLX has been the subject of several other reports. Morgan Stanley dropped their price objective 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. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Leerink Partners cut shares of Hologic from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $80.00 to $75.00 in a research report on Thursday. Needham & Company LLC downgraded Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research note on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Hologic has an average rating of “Moderate Buy” and an average target price of $86.46.

Insider Activity at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This trade 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 accessible through this hyperlink. 1.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hologic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC bought a new stake in Hologic during the 3rd quarter worth approximately $25,000. General Partner Inc. purchased a new stake in shares of Hologic in the fourth quarter valued at about $26,000. Groupama Asset Managment grew its position in Hologic by 9.9% in the 3rd 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 in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Stock Performance

The firm has a market cap of $14.96 billion, a PE ratio of 19.90, a PEG ratio of 2.35 and a beta of 0.97. 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 company has a 50-day simple moving average of $72.91 and a two-hundred day simple moving average of $77.95.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. As a group, equities research analysts forecast 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.