Hologic (NASDAQ:HOLX) Reaches New 12-Month Low After Analyst Downgrade

Shares of Hologic, Inc. (NASDAQ:HOLX) hit a new 52-week low on Thursday after Leerink Partnrs downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $66.56 and last traded at $67.05, with a volume of 463757 shares traded. The stock had previously closed at $72.80.

Other equities research analysts have also issued research reports about the company. Raymond James restated an “outperform” rating and set a $90.00 price target (down previously from $95.00) on shares of Hologic in a research note on Thursday. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC cut shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Wolfe Research initiated coverage on Hologic in a research note on Friday, December 13th. They issued a “peer perform” rating for the company. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Hologic has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Transactions at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the 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 in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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 stock. Benson Investment Management Company Inc. acquired a new stake in shares of Hologic in the fourth quarter valued at about $4,832,000. Clean Yield Group boosted its holdings in Hologic by 18.9% in the 4th quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider’s stock worth $3,291,000 after buying an additional 7,266 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Hologic by 17.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,832 shares of the medical equipment provider’s stock worth $312,000 after buying an additional 582 shares during the last quarter. Janus Henderson Group PLC increased its stake in Hologic by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider’s stock worth $2,344,000 after buying an additional 800 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Hologic during the third quarter valued at approximately $1,677,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock 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 has a 50-day moving average price of $72.33 and a two-hundred day moving average price of $77.76. The firm has a market cap of $14.58 billion, a PE ratio of 19.39, a P/E/G ratio of 2.35 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Research analysts forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal 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.