Hologic (NASDAQ:HOLX) Reaches New 12-Month Low Following Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $84.00 to $82.00. Morgan Stanley currently has an equal weight rating on the stock. Hologic traded as low as $70.27 and last traded at $70.36, with a volume of 281605 shares changing hands. The stock had previously closed at $71.70.

Several other research analysts have also recently issued reports on the company. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $85.00 in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Monday. Mizuho cut their price target on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Leerink Partners lowered their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Raymond James raised their target price on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hologic presently has an average rating of “Moderate Buy” and a consensus price target of $88.92.

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now owns 27,957 shares in the company, valued at approximately $2,134,237.38. This represents a 47.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prentiss Smith & Co. Inc. boosted its holdings in Hologic by 0.3% in the third quarter. Prentiss Smith & Co. Inc. now owns 48,696 shares of the medical equipment provider’s stock worth $3,967,000 after acquiring an additional 130 shares in the last quarter. Covestor Ltd boosted its stake in Hologic by 23.8% in the 3rd quarter. Covestor Ltd now owns 692 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 133 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Empirical Finance LLC grew its position in Hologic by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock worth $690,000 after purchasing an additional 147 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in Hologic by 3.7% during the 3rd quarter. Wedmont Private Capital now owns 4,519 shares of the medical equipment provider’s stock valued at $361,000 after purchasing an additional 162 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Trading Down 0.1 %

The stock’s fifty day simple moving average is $75.61 and its 200-day simple moving average is $78.53. 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 firm has a market cap of $15.93 billion, a PE ratio of 21.08, a PEG ratio of 2.32 and a beta of 0.97.

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