Hologic (NASDAQ:HOLX) Sets New 12-Month Low – Should You Sell?

Hologic, Inc. (NASDAQ:HOLX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $60.03 and last traded at $60.33, with a volume of 192481 shares. The stock had previously closed at $61.38.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BNP Paribas raised Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Needham & Company LLC lowered Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research note on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Wolfe Research started coverage on shares of Hologic in a research report on Friday, December 13th. They set a “peer perform” rating on the stock. Finally, Raymond James restated an “outperform” rating and issued a $90.00 price target (down from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.62.

Hologic Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The firm’s 50 day moving average price is $64.90 and its two-hundred day moving average price is $72.97. The company has a market cap of $13.61 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

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 the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Equities research analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Hologic by 0.8% during the third quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock valued at $847,944,000 after acquiring an additional 81,057 shares in the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 144,838 shares during the period. Victory Capital Management Inc. increased its stake in Hologic by 0.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock valued at $354,506,000 after purchasing an additional 24,358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Hologic by 3.0% during the fourth 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 buying an additional 129,035 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Hologic by 16.4% in the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider’s stock valued at $293,434,000 after buying an additional 572,187 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.