Hologic (NASDAQ:HOLX) Reaches New 12-Month High – Here’s Why

Hologic, Inc. (NASDAQ:HOLX) hit a new 52-week high on Friday . The stock traded as high as $75.39 and last traded at $75.3550, with a volume of 703846 shares changing hands. The stock had previously closed at $75.14.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore downgraded Hologic from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $79.00 to $78.00 in a research note on Monday, January 5th. Morgan Stanley raised their target price on Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. BNP Paribas Exane downgraded shares of Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 price target on the stock. in a report on Friday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. Finally, Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.42.

Hologic Price Performance

The company has a market capitalization of $16.83 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72. The business’s 50-day moving average price is $74.91 and its 200 day moving average price is $71.80. The company has a quick ratio of 3.32, a current ratio of 4.04 and a debt-to-equity ratio of 0.48.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.05). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hologic had a net margin of 13.18% and a return on equity of 19.58%. Hologic’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. Analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Trading of Hologic

A number of hedge funds have recently made changes to their positions in HOLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Hologic by 10.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,776 shares of the medical equipment provider’s stock worth $2,395,000 after purchasing an additional 3,520 shares in the last quarter. Empowered Funds LLC grew its position in Hologic by 27.7% during the first quarter. Empowered Funds LLC now owns 17,494 shares of the medical equipment provider’s stock valued at $1,081,000 after acquiring an additional 3,790 shares during the last quarter. Ethic Inc. grew its position in Hologic by 127.5% during the second quarter. Ethic Inc. now owns 10,200 shares of the medical equipment provider’s stock valued at $663,000 after acquiring an additional 5,717 shares during the last quarter. Carnegie Investment Counsel raised its stake in shares of Hologic by 10.6% during the second quarter. Carnegie Investment Counsel now owns 221,528 shares of the medical equipment provider’s stock worth $14,435,000 after acquiring an additional 21,273 shares in the last quarter. Finally, AlTi Global Inc. lifted its holdings in shares of Hologic by 27.9% in the 2nd quarter. AlTi Global Inc. now owns 14,974 shares of the medical equipment provider’s stock worth $986,000 after acquiring an additional 3,266 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

About Hologic

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.