Hologic (NASDAQ:HOLX) Sets New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

Several analysts recently weighed in on HOLX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hologic in a research note on Wednesday, January 28th. Evercore cut shares of Hologic from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $79.00 to $78.00 in a research report on Monday, January 5th. Finally, Argus downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.42.

Hologic Price Performance

The company has a quick ratio of 3.32, a current ratio of 4.04 and a debt-to-equity ratio of 0.48. The stock has a market cap of $16.97 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.24 and a beta of 0.70. The company’s 50 day moving average price is $75.28 and its 200-day moving average price is $73.71.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Winnow Wealth LLC bought a new stake in Hologic during the third quarter valued at $26,000. Root Financial Partners LLC acquired a new position in shares of Hologic in the 3rd quarter valued at about $27,000. Harbor Capital Advisors Inc. bought a new stake in shares of Hologic during the 4th quarter valued at about $27,000. SJS Investment Consulting Inc. grew its stake in Hologic by 341.5% during the third quarter. SJS Investment Consulting Inc. now owns 468 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 362 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Hologic by 168.5% in the third quarter. Smartleaf Asset Management LLC now owns 494 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

About Hologic

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.