Hologic, Inc. (NASDAQ:HOLX) Stake Raised by Select Equity Group L.P.

Select Equity Group L.P. raised its stake in Hologic, Inc. (NASDAQ:HOLX) by 87.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 338,020 shares of the medical equipment provider’s stock after acquiring an additional 157,835 shares during the period. Select Equity Group L.P.’s holdings in Hologic were worth $25,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Hologic in the second quarter worth about $25,000. iA Global Asset Management Inc. purchased a new stake in shares of Hologic in the first quarter worth approximately $37,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Hologic during the 2nd quarter valued at $47,000. Mather Group LLC. acquired a new position in Hologic in the 1st quarter worth about $48,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Hologic by 24.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 137 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Stock Up 0.3 %

NASDAQ HOLX opened at $80.10 on Friday. The firm has a 50-day simple moving average of $81.02 and a 200 day simple moving average of $77.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The stock has a market cap of $18.69 billion, a PE ratio of 40.87, a PEG ratio of 2.58 and a beta of 0.98. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $84.67.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOLX. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Tuesday, September 17th. Evercore ISI increased their price objective on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Hologic in a research report on Tuesday, July 30th. 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Insider Activity

In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction on 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. In the last quarter, insiders have sold 18,280 shares of company stock worth $1,469,973. Corporate insiders own 1.75% of the company’s stock.

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.