Hologic (NASDAQ:HOLX) Hits New 52-Week Low – Here’s What Happened

Shares of Hologic, Inc. (NASDAQ:HOLX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $61.42 and last traded at $61.55, with a volume of 144189 shares changing hands. The stock had previously closed at $62.59.

Analysts Set New Price Targets

HOLX has been the topic of a number of research reports. Leerink Partnrs downgraded Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stephens restated an “overweight” rating and set a $84.00 target price on shares of Hologic in a report on Thursday, February 6th. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Monday, February 3rd. Morgan Stanley cut their price objective on Hologic from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Wolfe Research started coverage on Hologic in a report on Friday, December 13th. They issued a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Hologic currently has an average rating of “Hold” and a consensus target price of $84.62.

Hologic Stock Down 2.5 %

The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.14 and a beta of 0.97. The business has a fifty day moving average price of $67.87 and a two-hundred day moving average price of $75.04.

Hologic (NASDAQ:HOLX) last issued its 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 return on equity of 19.72% and a net margin of 18.42%. On average, equities analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Hedge Funds Weigh In On Hologic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. General Partner Inc. acquired a new position in shares of Hologic during the 4th quarter worth $26,000. Venturi Wealth Management LLC increased its position in Hologic by 156.3% during the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 134 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Hologic by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 260 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 159 shares in the last quarter. Institutional investors 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.