Why Hologic Stock is Primed for Short Sellers Right Now

HOLX has grown nearly 20% in the past year

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Hologic, Inc. (NASDAQ:HOLX) is a global medical technology company that primarily focuses on improving women’s health and well-being through early detection and treatment. HOLX offers products for medical diagnostics, medical imaging systems, and surgical devices. In upcoming events, the medical device company is scheduled to present at the William Blair 42nd Annual Growth Stock Conference on Tuesday, June 7.

Hologic stock price has increased about 19% year-over-year and HOLX is currently trading up 25% since dropping to a 52-week low of $60.10. Additionally, shares of HOLX are up 3% year-to-date and have risen in price 3% over the past month. However, Hologic stock has fallen 7% since peaking at a 52-week high of $81.04.

The medical device company has begun to see fundamental declines and is expected to see significantly more in the coming years. HOLX is estimated to end fiscal 2022 with a 17.1% decrease in revenues and a 33.9% drop in earnings. The company is also estimated to see another 15.7% decrease in revenues and a 34.2% decline in earnings for fiscal 2023. As a result, Hologic stock's valuation seems much less appealing at a forward price-earnings ratio of 14.64 and a price-sales ratio 3.69.

In general, the best aspect of HOLX's fundamentals can be found on its balance sheet. Still, with just $2.3 billion in cash and $3.09 billion in total debt, their balance sheet is, at best, average. Overall, Hologic’s down trending business makes HOLX a prime candidate for short sellers.




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