Hologic (NASDAQ:HOLX) Reaches New 52-Week Low on Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) shares reached a new 52-week low during trading on Thursday after Leerink Partnrs downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $66.56 and last traded at $67.05, with a volume of 463757 shares trading hands. The stock had previously closed at $72.80.

A number of other equities research analysts also recently issued reports on HOLX. Jefferies Financial Group began coverage on shares of Hologic in a report on Tuesday, December 10th. They issued a "hold" rating and a $85.00 target price for the company. Leerink Partners lowered Hologic from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $80.00 to $75.00 in a research report on Thursday. 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. Raymond James reaffirmed an "outperform" rating and issued a $90.00 price objective (down from $95.00) on shares of Hologic in a research note on Thursday. Finally, UBS Group increased their target price on shares of Hologic from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.77.

Insider Buying and Selling

In related news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.88% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new stake in Hologic during the third quarter valued at $25,000. General Partner Inc. bought a new stake in shares of Hologic during the 4th quarter valued at about $26,000. Groupama Asset Managment lifted its holdings in Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 2,999 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Hologic by 156.3% in the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider's stock valued at $31,000 after acquiring an additional 261 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Hologic Price Performance

The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.14 and a beta of 0.97. The company has a current ratio of 3.49, a quick ratio of 3.03 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $72.33 and a two-hundred day moving average price of $77.76.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. As a group, research analysts forecast that Hologic, Inc. will post 4.27 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.