Sound Shore Management Inc. CT Increases Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Sound Shore Management Inc. CT grew its stake in Hologic, Inc. (NASDAQ:HOLX) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,166,115 shares of the medical equipment provider’s stock after acquiring an additional 57,588 shares during the period. Hologic comprises 2.9% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 12th biggest holding. Sound Shore Management Inc. CT’s holdings in Hologic were worth $86,584,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Hologic during the 2nd quarter valued at about $25,000. iA Global Asset Management Inc. acquired a new stake in shares of Hologic during the first quarter worth about $37,000. Cranbrook Wealth Management LLC purchased a new position in shares of Hologic in the second quarter valued at approximately $47,000. Mather Group LLC. acquired a new position in shares of Hologic in the first quarter valued at approximately $48,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Finally, Evercore ISI boosted their price objective on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.60.

Insider Buying and Selling

In other Hologic news, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares in the company, valued at $858,927.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Benjamin Jordan Cohn sold 5,093 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now directly owns 45,472 shares of the company’s stock, valued at $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock worth $1,469,973 in the last ninety days. 1.75% of the stock is owned by corporate insiders.

Hologic Trading Down 1.2 %

HOLX opened at $81.39 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic, Inc. has a one year low of $64.02 and a one year high of $84.67. The company has a market cap of $18.99 billion, a P/E ratio of 41.53, a PEG ratio of 2.53 and a beta of 0.98. The business’s 50-day simple moving average is $80.74 and its 200-day simple moving average is $77.05.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts expect that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

About Hologic

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.