State of Michigan Retirement System Sells 2,800 Shares of Hologic, Inc. (NASDAQ:HOLX)

State of Michigan Retirement System lessened its stake in Hologic, Inc. (NASDAQ:HOLX) by 4.2% in the 1st quarter, HoldingsChannel reports. The fund owned 64,265 shares of the medical equipment provider’s stock after selling 2,800 shares during the quarter. State of Michigan Retirement System’s holdings in Hologic were worth $5,010,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Hologic during the 4th quarter valued at $217,529,000. Pinebridge Investments L.P. boosted its holdings in Hologic by 39.8% during the fourth quarter. Pinebridge Investments L.P. now owns 397,251 shares of the medical equipment provider’s stock worth $28,384,000 after buying an additional 113,050 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Hologic during the 4th quarter worth about $1,057,000. Thematics Asset Management raised its position in shares of Hologic by 18.0% in the 4th quarter. Thematics Asset Management now owns 433,487 shares of the medical equipment provider’s stock valued at $30,973,000 after acquiring an additional 66,158 shares during the period. Finally, Cibc World Markets Corp raised its position in shares of Hologic by 133.2% in the 4th quarter. Cibc World Markets Corp now owns 31,524 shares of the medical equipment provider’s stock valued at $2,252,000 after acquiring an additional 18,005 shares during the period. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Friday, May 3rd. Evercore ISI cut their price objective on shares of Hologic from $78.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Stephens initiated coverage on shares of Hologic in a research note on Thursday, June 27th. They set an “overweight” rating and a $87.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.55.

Hologic Stock Performance

NASDAQ:HOLX opened at $73.53 on Wednesday. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.47 and a beta of 0.99. Hologic, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $82.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. The stock has a fifty day moving average price of $74.21 and a 200-day moving average price of $74.36.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.91%. Hologic’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, equities analysts anticipate that Hologic, Inc. will post 4.08 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.