Hologic (NASDAQ:HOLX) Sets New 1-Year High – Time to Buy?

Hologic, Inc. (NASDAQ:HOLX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $76.01 and last traded at $76.0050, with a volume of 2400666 shares trading hands. The stock had previously closed at $75.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore cut shares of Hologic from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $79.00 to $78.00 in a report on Monday, January 5th. Argus downgraded Hologic from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hologic in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hologic currently has an average rating of “Hold” and an average target price of $78.42.

Hologic Stock Performance

The firm has a market cap of $16.97 billion, a P/E ratio of 31.67, a PEG ratio of 2.24 and a beta of 0.70. The company has a current ratio of 4.04, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $75.28 and its two-hundred day moving average is $73.71.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.05). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hologic had a return on equity of 19.58% and a net margin of 13.18%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. As a group, equities analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its stake in shares of Hologic by 22.5% in the 4th quarter. Corient Private Wealth LLC now owns 64,377 shares of the medical equipment provider’s stock worth $4,797,000 after buying an additional 11,831 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Hologic during the fourth quarter valued at approximately $58,000. Alpine Global Management LLC bought a new stake in Hologic during the fourth quarter worth $1,676,000. Kera Capital Partners Inc. boosted its position in Hologic by 158.7% in the fourth quarter. Kera Capital Partners Inc. now owns 8,039 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in Hologic by 62.4% in the 4th quarter. Virtu Financial LLC now owns 22,750 shares of the medical equipment provider’s stock valued at $1,695,000 after purchasing an additional 8,744 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Company Profile

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.