Hologic (NASDAQ:HOLX) Sets New 52-Week High – Time to Buy?

Shares of Hologic, Inc. (NASDAQ:HOLX) reached a new 52-week high on Thursday . The stock traded as high as $75.75 and last traded at $75.6350, with a volume of 31208 shares. The stock had previously closed at $75.52.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore cut shares of Hologic from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $79.00 to $78.00 in a research note on Monday, January 5th. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hologic in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.42.

Hologic Trading Up 0.2%

The business has a fifty day moving average of $75.20 and a 200-day moving average of $73.17. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 2.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.04 and a quick ratio of 3.32.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.05). Hologic had a net margin of 13.18% and a return on equity of 19.58%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.87 earnings per share. Hologic’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Institutional Trading of Hologic

A number of large investors have recently added to or reduced their stakes in HOLX. Winnow Wealth LLC bought a new position in shares of Hologic in the third quarter valued at $26,000. Root Financial Partners LLC acquired a new stake in shares of Hologic during the third quarter worth $27,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Hologic during the fourth quarter valued at $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of Hologic by 341.5% during the third quarter. SJS Investment Consulting Inc. now owns 468 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 362 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Hologic in the 2nd quarter valued at $33,000. 94.73% of the stock is currently 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.