California Public Employees Retirement System Increases Position in Hologic, Inc. (NASDAQ:HOLX)

California Public Employees Retirement System increased its stake in Hologic, Inc. (NASDAQ:HOLX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,422,317 shares of the medical equipment provider’s stock after purchasing an additional 27,461 shares during the quarter. California Public Employees Retirement System owned approximately 0.61% of Hologic worth $101,625,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators raised its holdings in Hologic by 42.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 155 shares during the period. Arizona State Retirement System increased its holdings in shares of Hologic by 0.3% in the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after purchasing an additional 172 shares during the period. Allworth Financial LP increased its holdings in shares of Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 179 shares during the period. Great Lakes Retirement Inc. increased its holdings in shares of Hologic by 1.6% in the fourth quarter. Great Lakes Retirement Inc. now owns 11,859 shares of the medical equipment provider’s stock worth $847,000 after purchasing an additional 186 shares during the period. Finally, Choate Investment Advisors increased its holdings in shares of Hologic by 1.3% in the third quarter. Choate Investment Advisors now owns 15,732 shares of the medical equipment provider’s stock worth $1,092,000 after purchasing an additional 202 shares during the period. Institutional investors own 94.73% of the company’s stock.

Insider Transactions at Hologic

In other news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Karleen Marie Oberton sold 14,940 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $75.00, for a total value of $1,120,500.00. Following the completion of the transaction, the chief financial officer now directly owns 103,916 shares of the company’s stock, valued at $7,793,700. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the transaction, the director now directly owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,846 shares of company stock worth $2,473,443. Company insiders own 1.75% of the company’s stock.

Analysts Set New Price Targets

HOLX has been the topic of several research analyst reports. StockNews.com cut shares of Hologic from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Raymond James upped their price target on shares of Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Citigroup upgraded shares of Hologic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, Evercore ISI upped their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.00.

Hologic Stock Performance

NASDAQ HOLX opened at $77.19 on Wednesday. The company has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $72.69. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55. Hologic, Inc. has a 12-month low of $64.02 and a 12-month high of $87.88. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.58 and a beta of 1.00.

Hologic (NASDAQ:HOLX) last posted its earnings results on Thursday, February 1st. The medical equipment provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $989.32 million. Hologic had a net margin of 12.98% and a return on equity of 18.91%. Hologic’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. On average, equities analysts forecast that Hologic, Inc. will post 4.01 EPS for the current year.

About Hologic

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.