Procyon Advisors LLC Makes New $692,000 Investment in Hologic, Inc. (NASDAQ:HOLX)

Procyon Advisors LLC bought a new stake in Hologic, Inc. (NASDAQ:HOLX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,208 shares of the medical equipment provider’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Venturi Wealth Management LLC raised its position in shares of Hologic by 156.3% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 260 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Hologic by 36.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock valued at $43,000 after acquiring an additional 159 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Hologic by 160.0% in the fourth quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 400 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Hologic in the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen downgraded Hologic from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Raymond James reaffirmed an “outperform” rating and set a $71.00 target price (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Evercore ISI decreased their price target on shares of Hologic from $65.00 to $62.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Hologic in a research report on Tuesday, May 27th. Finally, Morgan Stanley cut their price objective on shares of Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Hologic presently has a consensus rating of “Hold” and an average target price of $77.42.

Insider Buying and Selling

In related news, Director Martin D. Madaus bought 5,445 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $300,781.80. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Hologic Stock Up 2.0%

Shares of NASDAQ HOLX opened at $64.33 on Friday. The company has a market capitalization of $14.34 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.14 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The company has a 50 day simple moving average of $58.27 and a 200-day simple moving average of $65.35. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts predict that Hologic, Inc. will post 4.28 earnings per share 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.