Hologic (NASDAQ:HOLX) Hits New 1-Year Low on Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s stock price reached a new 52-week low during trading 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 trading hands. The stock had previously closed at $72.80.

HOLX has been the topic of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Hologic in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Needham & Company LLC downgraded shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Monday. JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, UBS Group boosted their price objective on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Nine investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.46.

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the sale, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new position in shares of Hologic during the 3rd quarter worth about $25,000. General Partner Inc. bought a new position in Hologic during the fourth quarter worth about $26,000. Venturi Wealth Management LLC increased its position in Hologic by 156.3% during the fourth 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. First Horizon Advisors Inc. raised its stake in Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 134 shares during the period. Finally, Cromwell Holdings LLC lifted its position in shares of Hologic by 330.2% in the third quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 416 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Hologic Price Performance

The company has a 50 day moving average price of $72.91 and a 200 day moving average price of $77.95. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $14.96 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.35 and a beta of 0.97.

Hologic (NASDAQ:HOLX) last posted its earnings results 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%. On average, equities analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal 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.