Hologic (NASDAQ:HOLX) Sets New 1-Year Low - What's Next?

Shares of Hologic, Inc. (NASDAQ:HOLX - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $70.27 and last traded at $70.36, with a volume of 281605 shares traded. The stock had previously closed at $71.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HOLX shares. Mizuho cut their price target on Hologic from $90.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Hologic in a report on Monday. Raymond James raised their price objective on Hologic from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price target on Hologic from $84.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Jefferies Financial Group assumed coverage on shares of Hologic in a research report on Tuesday, December 10th. They issued a "hold" rating and a $85.00 price target for the company. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.92.

Hologic Trading Down 2.0 %

The firm has a market cap of $15.95 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The firm's fifty day moving average is $75.88 and its 200-day moving average is $78.55.

Hologic (NASDAQ:HOLX - Get Free Report) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. Hologic's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. Equities analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were 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 owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Choreo LLC purchased a new stake in Hologic in the 2nd quarter worth approximately $393,000. Oppenheimer & Co. Inc. grew its holdings in Hologic by 2.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,275 shares of the medical equipment provider's stock worth $1,505,000 after acquiring an additional 500 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Hologic during the 2nd quarter valued at about $246,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Hologic by 11.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,423 shares of the medical equipment provider's stock valued at $2,853,000 after purchasing an additional 3,876 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Hologic by 3.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 361,271 shares of the medical equipment provider's stock valued at $26,824,000 after acquiring an additional 12,671 shares during the period. 94.73% of the stock is owned by institutional investors.

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.