Ledyard National Bank Invests $203,000 in Hologic, Inc. $HOLX

Ledyard National Bank acquired a new stake in Hologic, Inc. (NASDAQ:HOLX) in the second quarter, HoldingsChannel.com reports. The fund acquired 3,109 shares of the medical equipment provider’s stock, valued at approximately $203,000.

A number of other hedge funds also recently bought and sold shares of the business. Strs Ohio raised its holdings in Hologic by 2.6% in the 2nd quarter. Strs Ohio now owns 214,332 shares of the medical equipment provider’s stock valued at $13,966,000 after acquiring an additional 5,332 shares during the last quarter. Assetmark Inc. raised its holdings in Hologic by 22.0% in the 2nd quarter. Assetmark Inc. now owns 3,285 shares of the medical equipment provider’s stock valued at $214,000 after acquiring an additional 593 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Hologic by 91.4% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,914 shares of the medical equipment provider’s stock valued at $6,510,000 after acquiring an additional 47,700 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Hologic during the 2nd quarter worth $7,763,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Hologic by 17.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 44,770 shares of the medical equipment provider’s stock valued at $2,917,000 after acquiring an additional 6,503 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling

In other news, Director Christiana Stamoulis sold 7,402 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,458,841.52. The trade was a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen P. Macmillan sold 138,358 shares of the business’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 transaction of $9,265,835.26. Following the completion of the sale, the chief executive officer directly owned 1,234,624 shares in the company, valued at $82,682,769.28. This trade represents a 10.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Hologic in a research note on Tuesday, October 21st. Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $80.00 in a research note on Wednesday, July 9th. Morgan Stanley lifted their target price on shares of Hologic from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Hologic in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, Hologic has an average rating of “Hold” and a consensus target price of $79.23.

Hologic Price Performance

Hologic stock opened at $73.93 on Friday. The company’s 50 day simple moving average is $68.15 and its 200-day simple moving average is $64.42. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.81 and a current ratio of 3.55.

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

Hologic Company 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.