Washington Capital Management Inc. Boosts Position in Hologic, Inc. (NASDAQ:HOLX)

Washington Capital Management Inc. increased its stake in Hologic, Inc. (NASDAQ:HOLX) by 94.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,445 shares of the medical equipment provider’s stock after acquiring an additional 7,515 shares during the quarter. Hologic comprises 0.8% of Washington Capital Management Inc.’s holdings, making the stock its 29th largest position. Washington Capital Management Inc.’s holdings in Hologic were worth $954,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in HOLX. Smartleaf Asset Management LLC increased its position in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 159 shares during the period. Capital Investment Counsel Inc increased its position in Hologic by 3.6% during the 4th quarter. Capital Investment Counsel Inc now owns 5,724 shares of the medical equipment provider’s stock valued at $413,000 after purchasing an additional 200 shares during the period. Dark Forest Capital Management LP increased its position in Hologic by 7.9% during the 4th quarter. Dark Forest Capital Management LP now owns 3,053 shares of the medical equipment provider’s stock valued at $220,000 after purchasing an additional 223 shares during the period. Baker Avenue Asset Management LP increased its position in Hologic by 0.5% during the 4th quarter. Baker Avenue Asset Management LP now owns 42,051 shares of the medical equipment provider’s stock valued at $3,031,000 after purchasing an additional 225 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada cut their target price on shares of Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Hologic in a research report on Tuesday, May 27th. Argus downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Evercore ISI cut their target price on shares of Hologic from $65.00 to $62.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Twelve equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.42.

Hologic Stock Up 2.0%

Shares of Hologic stock opened at $64.33 on Friday. The firm’s 50 day moving average price is $58.27 and its 200-day moving average price is $65.35. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. Hologic, Inc. has a 52-week low of $51.90 and a 52-week high of $84.67. The company has a market cap of $14.34 billion, a P/E ratio of 20.29, a PEG ratio of 2.14 and a beta of 0.55.

Hologic (NASDAQ:HOLX) last released its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Hologic’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. On average, sell-side analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Martin D. Madaus bought 5,445 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $300,781.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.88% of the stock is owned by company insiders.

Hologic Profile

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.