Hologic (NASDAQ:HOLX) Reaches New 12-Month Low - Time to Sell?

Hologic, Inc. (NASDAQ:HOLX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $70.36 and last traded at $71.07, with a volume of 286244 shares trading hands. The stock had previously closed at $70.76.

Analyst Ratings Changes

A number of brokerages have recently commented on HOLX. UBS Group increased their price target on shares of Hologic from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Evercore ISI increased their target price on Hologic from $78.00 to $82.00 and gave the company an "in-line" rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Hologic in a research note on Thursday. Royal Bank of Canada upped their price objective on Hologic from $86.00 to $89.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on Hologic in a report on Tuesday, December 10th. They set a "hold" rating and a $85.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.50.

Hologic Price Performance

The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average price is $78.65 and its 200-day moving average price is $78.52. The stock has a market cap of $16.26 billion, a P/E ratio of 21.52, a PEG ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $987.90 million during the quarter, compared to analysts' expectations of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. Analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Activity at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of Hologic 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hologic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC purchased a new position in Hologic during the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Hologic during the second quarter valued at about $25,000. First Horizon Advisors Inc. raised its stake in Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock worth $39,000 after buying an additional 134 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Hologic in the second quarter worth about $37,000. Finally, Cromwell Holdings LLC boosted its position in Hologic by 330.2% during the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider's stock valued at $44,000 after acquiring an additional 416 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

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.