HOLX - Hologic is down despite Barron's bullish view

In its latest edition, Barron’s identified Hologic ([[HOLX]] -6.3%) as a ‘bargain waiting to be snapped up’ joining a string of bullish calls on the stock. However, the stock has dropped ~1.3% over the week underperforming the ~0.5% loss in the S&P 500 index.Despite the ~56.5% rise of the stock over the past 12-month period, compared to ~18.2% rise in the S&P 500, the stock’s P/E ratio has fallen, the author Evie Liu notesShe attributes the decline to the investor’s lack of investor confidence in the company’s ability to sustain the COVID-19 driven boost to testing as the pandemic subsides.However, expecting tests to become a requirement for travel and surgery despite the vaccine uptake, the author projects the upward trajectory to continue noting that Hologic’s COVID-related success could lead to growth in other businesses.Contrasting the company’s current valuation at sub nine times forward earnings and the five-year average of nearly 19

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Hologic is down despite Barron’s bullish view