Hologic (NASDAQ:HOLX) Sets New 52-Week Low After Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX)’s share price hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $80.00 to $70.00. Citigroup currently has a neutral rating on the stock. Hologic traded as low as $62.63 and last traded at $62.98, with a volume of 203648 shares traded. The stock had previously closed at $63.27.

Other research analysts also recently issued research reports about the company. UBS Group boosted their price target on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Monday, February 3rd. Royal Bank of Canada dropped their price target on Hologic from $88.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. BNP Paribas raised shares of Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research assumed coverage on shares of Hologic in a report on Friday, December 13th. They set a “peer perform” rating on the stock. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.62.

Insider Transactions at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the firm’s 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 sale, the chief operating officer now owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Hologic

Hedge funds and other institutional investors have recently modified their holdings of the company. General Partner Inc. purchased a new position in shares of Hologic during the 4th quarter worth $26,000. Venturi Wealth Management LLC lifted its stake in shares of Hologic by 156.3% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 261 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings 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 buying an additional 134 shares during the period. EverSource Wealth Advisors LLC increased its stake in Hologic by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 260 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Hologic by 36.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 159 shares during the period. 94.73% of the stock is owned by institutional investors.

Hologic Price Performance

The firm has a 50-day moving average of $68.98 and a 200-day moving average of $75.78. The stock has a market cap of $14.02 billion, a PE ratio of 19.71, a PEG ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Research analysts predict that Hologic, Inc. will post 4.28 EPS 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.