Hologic (NASDAQ:HOLX) Hits New 12-Month Low – Time to Sell?

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $56.27 and last traded at $57.90, with a volume of 4235273 shares trading hands. The stock had previously closed at $57.16.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HOLX. Royal Bank of Canada dropped their price target on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Raymond James reiterated an “outperform” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Hologic in a report on Thursday, February 6th. Leerink Partners cut Hologic from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Evercore ISI decreased their price objective on shares of Hologic from $76.00 to $73.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Leerink Partnrs cut shares of Hologic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Eleven equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.62.

Hologic Stock Up 0.3 %

The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.14 and a beta of 0.82. 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 50-day moving average of $62.47 and a 200 day moving average of $71.49.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Institutional Trading of Hologic

Institutional investors have recently added to or reduced their stakes in the company. Procyon Advisors LLC acquired a new stake in Hologic in the 1st quarter worth about $692,000. West Financial Advisors LLC bought a new stake in shares of Hologic during the 1st quarter valued at $50,000. Czech National Bank increased its position in shares of Hologic by 2.3% in the first quarter. Czech National Bank now owns 51,538 shares of the medical equipment provider’s stock worth $3,184,000 after purchasing an additional 1,176 shares during the period. Rhumbline Advisers increased its stake in shares of Hologic by 5.1% in the 1st quarter. Rhumbline Advisers now owns 535,348 shares of the medical equipment provider’s stock valued at $33,068,000 after purchasing an additional 25,822 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Hologic by 4,467.2% during the first quarter. GAMMA Investing LLC now owns 195,749 shares of the medical equipment provider’s stock worth $120,910,000 after acquiring an additional 191,463 shares in the last quarter. 94.73% of the stock is currently 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.