Hologic (NASDAQ:HOLX) Hits New 1-Year Low - Time to Sell?

Hologic, Inc. (NASDAQ:HOLX - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $56.27 and last traded at $57.90, with a volume of 4235273 shares trading hands. The stock had previously closed at $57.16.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOLX. Needham & Company LLC cut Hologic from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a report on Monday, February 3rd. Leerink Partnrs cut shares of Hologic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Evercore ISI dropped their price target on shares of Hologic from $76.00 to $73.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Argus cut shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Hologic in a report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.62.

Hologic Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The stock has a market capitalization of $12.92 billion, a P/E ratio of 18.16, a PEG ratio of 2.14 and a beta of 0.82. The business has a 50-day moving average price of $61.58 and a 200 day moving average price of $70.82.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates 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 forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Hologic

A number of institutional investors and hedge funds have recently modified their holdings of HOLX. Benson Investment Management Company Inc. bought a new position in Hologic in the fourth quarter worth approximately $4,832,000. Principal Financial Group Inc. grew its holdings in Hologic by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider's stock valued at $19,547,000 after buying an additional 1,606 shares in the last quarter. Clean Yield Group raised its position in shares of Hologic by 18.9% during the 4th quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider's stock valued at $3,291,000 after buying an additional 7,266 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Hologic by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 1,358,945 shares of the medical equipment provider's stock worth $110,700,000 after buying an additional 238,222 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Hologic by 115.8% in the 3rd quarter. Stifel Financial Corp now owns 20,354 shares of the medical equipment provider's stock worth $1,658,000 after purchasing an additional 10,924 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Hologic

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.