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

Hologic, Inc. (NASDAQ:HOLX)’s share price reached a new 52-week high on Friday . The stock traded as high as $75.39 and last traded at $75.3550, with a volume of 703846 shares trading hands. The stock had previously closed at $75.14.

Wall Street Analysts Forecast Growth

HOLX has been the subject of a number of research reports. Morgan Stanley lifted their target price on Hologic from $69.00 to $76.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Evercore lowered shares of Hologic from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $79.00 to $78.00 in a research report on Monday, January 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Hologic in a report on Tuesday, November 4th. BNP Paribas Exane cut shares of Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 target price for the company. in a report on Friday, November 21st. Finally, Argus lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.42.

Hologic Stock Performance

The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.25 and a beta of 0.72. 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’s 50 day moving average is $74.92 and its 200-day moving average is $71.88.

Hologic (NASDAQ:HOLX) last released 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. HBK Investments L P purchased a new stake in Hologic in the 4th quarter worth $625,716,000. The Manufacturers Life Insurance Company grew its position in shares of Hologic by 294.3% in the second 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 purchasing an additional 8,227,318 shares during the period. FIL Ltd increased its stake in shares of Hologic by 10,317.8% during the fourth quarter. FIL Ltd now owns 5,227,433 shares of the medical equipment provider’s stock worth $389,391,000 after purchasing 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 worth about $316,396,000. Finally, Norges Bank purchased a new position in Hologic in the 4th quarter valued at about $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.