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

Hologic, Inc. (NASDAQ:HOLX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.36 and last traded at $75.2750, with a volume of 515435 shares changing hands. The stock had previously closed at $75.19.

Wall Street Analyst Weigh In

HOLX has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. Leerink Partners lifted their price objective on Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $78.00 price target on shares of Hologic in a research note on Wednesday, October 22nd. BNP Paribas Exane downgraded shares of Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 price objective on the stock. in a research note on Friday, November 21st. Finally, Evercore ISI lowered shares of Hologic from an “outperform” rating to an “in-line” rating and cut their target price for the company from $79.00 to $78.00 in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hologic presently has a consensus rating of “Hold” and an average target price of $79.31.

Hologic Trading Up 0.0%

The company has a quick ratio of 3.06, a current ratio of 3.75 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $74.82 and its two-hundred day moving average is $70.66. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 earnings per share (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 business 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 business posted $1.01 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in Hologic in the fourth quarter worth about $27,000. Winnow Wealth LLC acquired a new stake in shares of Hologic in the 3rd quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in shares of Hologic in the third quarter valued at approximately $27,000. Chung Wu Investment Group LLC acquired a new position in shares of Hologic during the second quarter valued at approximately $26,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Hologic by 193.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 273 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.