Hologic (NASDAQ:HOLX) Reaches New 52-Week Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOLX. Leerink Partners decreased their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wolfe Research started coverage on shares of Hologic in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Evercore ISI increased their price objective on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Hologic has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Get Our Latest Research Report on Hologic

Hologic Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The business’s 50 day simple moving average is $78.65 and its 200 day simple moving average is $78.52. The stock has a market cap of $16.12 billion, a P/E ratio of 21.33, a PEG ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLXGet Free Report) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. On average, analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is currently owned by insiders.

Institutional Trading of Hologic

Several hedge funds and other institutional investors have recently modified their holdings of HOLX. FMR LLC raised its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the period. Black Creek Investment Management Inc. raised its stake 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 buying an additional 885,524 shares during the period. Mackenzie Financial Corp lifted its holdings in Hologic by 1,023.3% during the 2nd 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 during the last quarter. Marshall Wace LLP acquired a new stake in shares of Hologic during the 2nd quarter worth about $39,427,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Hologic by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after acquiring an additional 450,190 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Company Profile

(Get Free Report)

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.

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