Zacks Investment Management Reduces Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Zacks Investment Management lessened its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 64.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,073 shares of the medical equipment provider’s stock after selling 76,599 shares during the period. Zacks Investment Management’s holdings in Hologic were worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Hologic by 64.0% during the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after buying an additional 2,174,093 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares during the period. Mackenzie Financial Corp grew its holdings in Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after acquiring an additional 815,960 shares during the period. Marshall Wace LLP purchased a new position in Hologic during the second quarter valued at approximately $39,427,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Hologic by 21.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after acquiring an additional 450,190 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the sale, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOLX. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Raymond James raised their price target on shares of Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Mizuho decreased their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Leerink Partners lowered their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.91.

Hologic Stock Performance

NASDAQ HOLX opened at $75.34 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The stock’s 50 day simple moving average is $79.81 and its 200-day simple moving average is $78.57. The company has a market cap of $17.10 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. Hologic, Inc. has a 1-year low of $67.59 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. As a group, equities research analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

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.