Hologic Inc. (NASDAQ: HOLX) stock fell -1.47% on Friday to $71.20 against a previous-day closing price of $72.26. With 1.02 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.87 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $72.58 whereas the lowest price it dropped to was $71.12. The 52-week range on HOLX shows that it touched its highest point at $81.04 and its lowest point at $66.58 during that stretch. It currently has a 1-year price target of $77.60. Beta for the stock currently stands at 1.07.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HOLX was up-trending over the past week, with a rise of 0.59%, but this was up by 0.45% over a month. Three-month performance dropped to -5.94% while six-month performance fell -1.33%. The stock lost -7.04% in the past year, while it has lost -7.00% so far this year. A look at the trailing 12-month EPS for HOLX yields 5.94 with Next year EPS estimates of 3.49. For the next quarter, that number is 0.62. This implies an EPS growth rate of 71.00% for this year and -39.50% for next year. EPS is expected to grow by 1.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 44.20%.
Float and Shares Shorts:
At present, 250.76 million HOLX shares are outstanding with a float of 247.60 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.39 million, which was 2.96% higher than short shares on Jun 14, 2022. In addition to Mr. Stephen P. MacMillan as the firm’s Chairman, CEO & Pres, Ms. Karleen M. Oberton serves as its Chief Financial Officer.
Through their ownership of 106.78% of HOLX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.98% of HOLX, in contrast to 34.63% held by mutual funds. Shares owned by individuals account for 3.80%. As the largest shareholder in HOLX with 17.29% of the stake, T. Rowe Price Associates, Inc. holds 43,106,780 shares worth 43,106,780. A second-largest stockholder of HOLX, The Vanguard Group, Inc., holds 26,894,149 shares, controlling over 10.78% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in HOLX, holding 13,864,522 shares or 5.56% stake. With a 4.71% stake in HOLX, the T Rowe Price Mid Cap Growth Fund is the largest stakeholder. A total of 11,750,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of HOLX stock, is the second-largest Mutual Fund holder. It holds 7,347,931 shares valued at 509.21 million. Vanguard Mid Cap Index Fund holds 2.30% of the stake in HOLX, owning 5,741,713 shares worth 397.9 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HOLX since 18 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 10 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HOLX analysts setting a high price target of $90.00 and a low target of $64.00, the average target price over the next 12 months is $79.10. Based on these targets, HOLX could surge 26.4% to reach the target high and fall by -10.11% to reach the target low. Reaching the average price target will result in a growth of 11.1% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HOLX will report FY 2022 earnings on 10/31/2022. Analysts have provided yearly estimates in a range of $5.86 being high and $5.55 being low. For HOLX, this leads to a yearly average estimate of $5.80. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Hologic Inc. surprised analysts by $0.24 when it reported $0.95 EPS against a consensus estimate of $0.71. The surprise factor in the prior quarter was $0.47. Based on analyst estimates, the high estimate for the next quarter is $0.68 and the low estimate is $0.52. The average estimate for the next quarter is thus $0.63.
Summary of Insider Activity:
Insiders traded HOLX stock several times over the past three months with 3 Buys and 5 Sells. In these transactions, 10,896 shares were bought while 17,755 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 528,844 while 196,507 shares were sold.