Hologic (NASDAQ:HOLX) Sets New 52-Week Low – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and set a $90.00 price objective (down from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Citigroup decreased their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of Hologic in a research report on Thursday, February 6th. Evercore ISI decreased their target price on Hologic from $76.00 to $73.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Finally, Stephens reiterated an “overweight” rating and set a $84.00 target price on shares of Hologic in a research note on Thursday, February 6th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.62.

Hologic Stock Performance

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 company has a market cap of $12.98 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.14 and a beta of 0.82. The stock’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $71.25.

Hologic (NASDAQ:HOLX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share 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, equities analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HOLX. General Partner Inc. acquired a new stake in shares of Hologic in the 4th quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its stake in Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Hologic by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 260 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Hologic by 36.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 159 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in shares of Hologic by 160.0% in the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

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.