Hologic (NASDAQ:HOLX) Sets New 52-Week High – Time to Buy?

Hologic, Inc. (NASDAQ:HOLX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $75.75 and last traded at $75.6350, with a volume of 31208 shares. The stock had previously closed at $75.52.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOLX. Evercore downgraded Hologic from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $79.00 to $78.00 in a report on Monday, January 5th. Argus downgraded shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reiterated 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.42.

Hologic Trading Up 0.2%

The firm has a market cap of $16.88 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.32 and a current ratio of 4.04. The firm has a fifty day moving average of $75.20 and a 200-day moving average of $73.17.

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%.Hologic’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 earnings per share. Equities research analysts forecast 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 bought and sold shares of the company. HBK Investments L P bought a new stake in shares of Hologic during the fourth quarter valued at approximately $625,716,000. The Manufacturers Life Insurance Company increased its position in Hologic by 294.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock valued at $718,223,000 after acquiring an additional 8,227,318 shares during the period. FIL Ltd raised its stake in Hologic by 10,317.8% during 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 Hologic during the 4th quarter worth $316,396,000. Finally, Norges Bank bought a new position in shares of Hologic in the fourth quarter worth $284,254,000. 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.