Retirement Systems of Alabama Lowers Stake in Hologic, Inc. $HOLX

Retirement Systems of Alabama lowered its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 697,461 shares of the medical equipment provider’s stock after selling 11,930 shares during the period. Retirement Systems of Alabama owned approximately 0.31% of Hologic worth $45,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HOLX. Chung Wu Investment Group LLC purchased a new position in shares of Hologic during the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Hologic by 193.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 273 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Hologic during the 1st quarter worth approximately $34,000. Cromwell Holdings LLC boosted its position in shares of Hologic by 307.0% during the 2nd quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 436 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Hologic by 46.0% during the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christiana Stamoulis sold 7,402 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the sale, the director directly owned 47,336 shares in the company, valued at approximately $3,458,841.52. This trade represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen P. Macmillan sold 138,358 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the transaction, the chief executive officer directly owned 1,234,624 shares of the company’s stock, valued at $82,682,769.28. This trade represents a 10.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.88% of the stock is currently owned by company insiders.

Hologic Price Performance

Shares of HOLX opened at $73.98 on Thursday. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $84.39. The firm’s fifty day simple moving average is $68.01 and its 200-day simple moving average is $64.36. The firm has a market capitalization of $16.45 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 2.54 and a beta of 0.63. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.06 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on HOLX. Royal Bank Of Canada raised shares of Hologic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $72.00 to $87.00 in a research report on Wednesday, August 6th. BTIG Research reiterated a “neutral” rating on shares of Hologic in a report on Tuesday, October 21st. Mizuho lowered shares of Hologic from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $78.00 in a report on Thursday, October 23rd. Leerink Partners increased their target price on shares of Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Tuesday, October 21st. Finally, Stephens lowered shares of Hologic from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $78.00 to $76.00 in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.23.

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.