Private Advisor Group LLC Reduces Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Private Advisor Group LLC lowered its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,653 shares of the medical equipment provider’s stock after selling 989 shares during the quarter. Private Advisor Group LLC’s holdings in Hologic were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC bought a new position in Hologic during the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Hologic during the 2nd quarter valued at approximately $25,000. iA Global Asset Management Inc. bought a new position in Hologic during the first quarter worth $37,000. Sunbelt Securities Inc. acquired a new position in Hologic in the second quarter worth $37,000. Finally, Cranbrook Wealth Management LLC bought a new stake in Hologic during the second quarter valued at $47,000. Institutional investors own 94.73% of the company’s stock.

Hologic Stock Down 0.3 %

Shares of Hologic stock opened at $80.87 on Friday. The stock’s fifty day moving average is $80.94 and its 200-day moving average is $77.95. The firm has a market capitalization of $18.87 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98. Hologic, Inc. has a 12-month low of $65.55 and a 12-month high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (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 the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Equities analysts anticipate that Hologic, Inc. will post 4.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOLX. Mizuho raised their target price on shares of Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $85.00 in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Hologic in a research note on Tuesday, October 15th. Leerink Partners reduced their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Evercore ISI increased their price objective on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Hologic presently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

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.