Van ECK Associates Corp Invests $725,000 in Hologic, Inc. (NASDAQ:HOLX)

Van ECK Associates Corp bought a new stake in shares of Hologic, Inc. (NASDAQ:HOLX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,918 shares of the medical equipment provider’s stock, valued at approximately $725,000.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Hologic during the second quarter valued at about $25,000. Wolff Wiese Magana LLC purchased a new stake in Hologic during the 3rd quarter valued at about $25,000. iA Global Asset Management Inc. purchased a new stake in Hologic during the 1st quarter valued at about $37,000. Sunbelt Securities Inc. bought a new position in Hologic during the 2nd quarter worth approximately $37,000. Finally, Cromwell Holdings LLC increased its stake in Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 416 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Citigroup cut 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 report on Tuesday, October 1st. Mizuho decreased their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Raymond James raised their target price on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Hologic currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.

Hologic Stock Performance

Shares of HOLX opened at $79.39 on Tuesday. The company has a 50-day simple moving average of $80.93 and a two-hundred day simple moving average of $78.19. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.32. The firm has a market capitalization of $18.44 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. Hologic, Inc. has a one year low of $67.59 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. On average, analysts anticipate that Hologic, Inc. will post 4.27 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.