Hologic (NASDAQ:HOLX) Reaches New 52-Week Low - Here's Why

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $63.57 and last traded at $63.87, with a volume of 140290 shares changing hands. The stock had previously closed at $64.47.

Analyst Ratings Changes

Several research analysts recently weighed in on HOLX shares. William Blair restated an "outperform" rating on shares of Hologic in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price target on Hologic from $88.00 to $85.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $90.00 price objective (down from $95.00) on shares of Hologic in a research report on Thursday, February 6th. StockNews.com raised shares of Hologic from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Finally, 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 price target for the company. Ten 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.77.

Hologic Stock Performance

The company has a quick ratio of 3.03, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.14 and a beta of 0.97. The business's 50-day simple moving average is $71.04 and its two-hundred day simple moving average is $77.22.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Hologic, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Essex D. Mitchell sold 24,856 shares of the company's stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.88% of the stock is currently owned by company insiders.

Institutional Trading of Hologic

Hedge funds and other institutional investors have recently modified their holdings of the business. General Partner Inc. purchased a new position in Hologic during the 4th quarter valued at about $26,000. Groupama Asset Managment increased its holdings in shares of Hologic by 9.9% in the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 2,999 shares during the last quarter. Venturi Wealth Management LLC increased 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 purchasing an additional 261 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Hologic by 38.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 260 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.