Hologic (NASDAQ:HOLX) Hits New 12-Month Low on Analyst Downgrade

Hologic, Inc. (NASDAQ:HOLX) shares hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $80.00 to $70.00. Citigroup currently has a neutral rating on the stock. Hologic traded as low as $62.63 and last traded at $62.98, with a volume of 203648 shares changing hands. The stock had previously closed at $63.27.

Other research analysts also recently issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Stephens reaffirmed an “overweight” rating and set a $84.00 price target on shares of Hologic in a research note on Thursday, February 6th. Royal Bank of Canada reduced their price objective on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their target price on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, UBS Group upped their price objective on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.62.

Insider Buying and Selling at Hologic

In related 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 transaction of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Hologic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Hologic by 18.8% during the third quarter. Swedbank AB now owns 1,937,002 shares of the medical equipment provider’s stock worth $157,788,000 after acquiring an additional 306,562 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Hologic by 55.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the medical equipment provider’s stock valued at $607,000 after buying an additional 2,645 shares during the period. Stephens Inc. AR raised its stake in shares of Hologic by 50.8% in the third quarter. Stephens Inc. AR now owns 6,445 shares of the medical equipment provider’s stock valued at $525,000 after buying an additional 2,172 shares during the period. Farther Finance Advisors LLC boosted its holdings in Hologic by 27.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical equipment provider’s stock worth $164,000 after buying an additional 434 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in shares of Hologic in the third quarter worth about $725,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The company has a 50 day moving average of $68.98 and a 200-day moving average of $75.78. The company has a market cap of $14.02 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Hologic (NASDAQ:HOLX) last issued 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%. On average, equities analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

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.