Hologic (NASDAQ:HOLX) Hits 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 stock traded as high as $75.75 and last traded at $75.6350, with a volume of 31208 shares trading hands. The stock had previously closed at $75.52.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore downgraded Hologic from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $79.00 to $78.00 in a report on Monday, January 5th. Argus downgraded Hologic from a “buy” rating to a “hold” rating in a research note 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 investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.42.

Hologic Trading Down 0.0%

The firm has a 50-day moving average of $75.22 and a 200 day moving average of $73.25. The company has a current ratio of 4.04, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.25 and a beta of 0.73.

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

Hedge Funds Weigh In On Hologic

A number of institutional investors and hedge funds have recently bought and sold shares of HOLX. Winnow Wealth LLC acquired a new stake in shares of Hologic in the 3rd quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in Hologic during the 3rd quarter valued at $27,000. Harbor Capital Advisors Inc. acquired a new position in shares of Hologic during the 4th quarter valued at $27,000. SJS Investment Consulting Inc. raised its stake in shares of Hologic by 341.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 468 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 362 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Hologic in the 2nd quarter worth $33,000. 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.