Hologic (NASDAQ:HOLX) Hits New 52-Week Low – Time to Sell?

Hologic, Inc. (NASDAQ:HOLX) reached a new 52-week low during trading on Friday . The stock traded as low as $70.36 and last traded at $71.07, with a volume of 286244 shares traded. The stock had previously closed at $70.76.

Analyst Upgrades and Downgrades

HOLX has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Thursday. Raymond James upped their target price on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Citigroup downgraded shares of Hologic from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $85.00 in a research report on Tuesday, October 1st. Royal Bank of Canada raised their target price on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, BNP Paribas upgraded Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Hologic Trading Up 0.4 %

The business’s 50-day moving average is $78.65 and its two-hundred day moving average is $78.52. The stock has a market capitalization of $16.12 billion, a PE ratio of 21.33, a PEG ratio of 2.38 and a beta of 0.96. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same period last year, the firm posted $0.89 EPS. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Institutional investors and hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new stake in shares of Hologic during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Hologic during the second quarter worth $25,000. First Horizon Advisors Inc. lifted its position in shares of Hologic by 38.3% in the 3rd 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 during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Hologic in the 2nd quarter valued at about $37,000. Finally, Cromwell Holdings LLC lifted its holdings in Hologic by 330.2% in the third quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.