Hologic (NASDAQ:HOLX) Hits New 12-Month High – Time to Buy?

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week high on Tuesday . The company traded as high as $75.36 and last traded at $75.2750, with a volume of 515435 shares traded. The stock had previously closed at $75.19.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Evercore ISI downgraded shares of Hologic from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $79.00 to $78.00 in a research note on Monday, January 5th. Argus lowered shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Mizuho downgraded shares of Hologic from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $70.00 to $78.00 in a research report on Thursday, October 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $78.00 price target on shares of Hologic in a research report on Wednesday, October 22nd. Finally, BNP Paribas Exane lowered 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 report on Friday, November 21st. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.31.

Hologic Price Performance

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 P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69. The company has a fifty day moving average price of $74.88 and a 200 day moving average price of $70.78.

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 the consensus estimate of $1.09 by ($0.05). Hologic had a return on equity of 20.13% and a net margin of 13.80%.The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion. On average, sell-side analysts forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Hologic

Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Hologic in the fourth quarter valued at $27,000. Winnow Wealth LLC bought a new stake in Hologic in the third quarter valued at approximately $26,000. Root Financial Partners LLC bought a new stake in shares of Hologic in the 3rd quarter valued at $27,000. Chung Wu Investment Group LLC bought a new position in shares of Hologic during the 2nd quarter valued at about $26,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Hologic by 193.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 273 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.