Hologic (NASDAQ:HOLX) Hits New 52-Week Low – Here’s What Happened

Hologic, Inc. (NASDAQ:HOLX) hit a new 52-week low during trading on Friday . The company traded as low as $70.36 and last traded at $71.07, with a volume of 286244 shares changing hands. The stock had previously closed at $70.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James lifted their target price on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price target on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. BNP Paribas raised shares of Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Hologic Price Performance

The company’s 50-day moving average is $78.49 and its 200-day moving average is $78.50. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOLX. FMR LLC boosted its holdings in shares of Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after acquiring an additional 2,174,093 shares in the last quarter. Black Creek Investment Management Inc. raised its position in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after purchasing an additional 885,524 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Hologic during the second quarter worth about $39,427,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Hologic by 21.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after buying an additional 450,190 shares during the period. 94.73% of the stock is currently 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.