Hologic (NASDAQ:HOLX) Reaches New 52-Week High – Time to Buy?

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $75.34 and last traded at $75.1350, with a volume of 374713 shares. The stock had previously closed at $75.00.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI set a $78.00 price target on Hologic and gave the company an “outperform” rating in a report on Tuesday, October 7th. Raymond James Financial downgraded Hologic from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. BTIG Research restated a “neutral” rating on shares of Hologic in a report on Tuesday, October 21st. Mizuho lowered Hologic from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $70.00 to $78.00 in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hologic in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.29.

Hologic Stock Up 0.1%

The company has a 50-day moving average of $73.01 and a two-hundred day moving average of $68.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.75 and a quick ratio of 3.06. The company has a market capitalization of $16.74 billion, a PE ratio of 30.29, a P/E/G ratio of 2.13 and a beta of 0.70.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Hologic had a return on equity of 20.13% and a net margin of 13.80%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Hologic

In other Hologic news, CEO Stephen P. Macmillan sold 138,358 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the transaction, the chief executive officer directly owned 1,234,624 shares in the company, valued at $82,682,769.28. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christiana Stamoulis sold 7,402 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $73.07, for a total value of $540,864.14. Following the completion of the sale, the director owned 47,336 shares of the company’s stock, valued at $3,458,841.52. The trade was a 13.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Hologic by 294.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock valued at $718,223,000 after purchasing an additional 8,227,318 shares during the last quarter. Invesco Ltd. grew its holdings in Hologic by 72.5% during the 2nd quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after buying an additional 3,505,828 shares in the last quarter. Norges Bank bought a new stake in Hologic in the 2nd quarter worth approximately $180,055,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Hologic by 473.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider’s stock worth $111,180,000 after acquiring an additional 1,405,085 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Hologic by 1,060.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,218,352 shares of the medical equipment provider’s stock valued at $82,227,000 after acquiring an additional 1,113,330 shares during the last quarter. 94.73% of the stock is currently 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.