Hologic (NASDAQ:HOLX) Hits New 12-Month High – Here’s What Happened

Hologic, Inc. (NASDAQ:HOLX) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $75.39 and last traded at $75.3550, with a volume of 703846 shares changing hands. The stock had previously closed at $75.14.

Wall Street Analyst Weigh In

HOLX has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. 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. Weiss Ratings restated a “hold (c)” rating on shares of Hologic in a research report on Wednesday, January 28th. BNP Paribas Exane downgraded Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 target price for the company. in a research report on Friday, November 21st. Finally, Argus downgraded 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 given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.42.

Hologic Price Performance

The firm has a market capitalization of $16.83 billion, a P/E ratio of 31.41, a PEG ratio of 2.24 and a beta of 0.72. The company has a fifty day moving average of $74.91 and a 200 day moving average of $71.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.04 and a quick ratio of 3.32.

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

Institutional Investors Weigh In On Hologic

Institutional investors and hedge funds have recently made changes to their positions in the business. HBK Investments L P bought a new stake in Hologic in the fourth quarter worth approximately $625,716,000. The Manufacturers Life Insurance Company grew its position 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 worth $718,223,000 after buying an additional 8,227,318 shares during the period. FIL Ltd increased its stake in shares of Hologic by 10,317.8% in the 4th quarter. FIL Ltd now owns 5,227,433 shares of the medical equipment provider’s stock valued at $389,391,000 after acquiring an additional 5,177,255 shares in the last quarter. Pentwater Capital Management LP acquired a new position in shares of Hologic during the 4th quarter valued at $316,396,000. Finally, Norges Bank bought a new position in Hologic during the fourth quarter worth $284,254,000. Institutional investors own 94.73% of the company’s stock.

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.