Handelsbanken Fonder AB Reduces Stake in Hologic, Inc. (NASDAQ:HOLX)

Handelsbanken Fonder AB lowered its holdings in Hologic, Inc. (NASDAQ:HOLX) by 10.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 192,405 shares of the medical equipment provider’s stock after selling 21,828 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.09% of Hologic worth $11,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HOLX. LaFleur & Godfrey LLC lifted its stake in shares of Hologic by 2.9% in the 4th quarter. LaFleur & Godfrey LLC now owns 130,373 shares of the medical equipment provider’s stock valued at $9,399,000 after purchasing an additional 3,655 shares during the period. Empowered Funds LLC lifted its stake in shares of Hologic by 280.3% in the 4th quarter. Empowered Funds LLC now owns 13,704 shares of the medical equipment provider’s stock valued at $988,000 after purchasing an additional 10,101 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Hologic by 58.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 145,028 shares of the medical equipment provider’s stock valued at $10,529,000 after purchasing an additional 53,762 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Hologic by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider’s stock valued at $19,547,000 after purchasing an additional 1,606 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Hologic in the 4th quarter valued at approximately $549,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HOLX. Citigroup lowered their target price on Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Argus cut Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Wall Street Zen cut Hologic from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on Hologic from $77.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Finally, Evercore ISI reduced their price objective on Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hologic has an average rating of “Hold” and an average price target of $77.42.

Insiders Place Their Bets

In other news, Director Martin D. Madaus purchased 5,445 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were purchased 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 in the company, valued at approximately $300,781.80. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Hologic Stock Up 1.0%

Hologic stock opened at $65.22 on Friday. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.14 and a beta of 0.55. The stock has a fifty day simple moving average of $58.58 and a two-hundred day simple moving average of $65.05. Hologic, Inc. has a 12 month low of $51.90 and a 12 month high of $84.67. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last posted 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Equities analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

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.