Azzad Asset Management Inc. ADV Takes Position in Hologic, Inc. (NASDAQ:HOLX)

Azzad Asset Management Inc. ADV acquired a new stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,978 shares of the medical equipment provider's stock, valued at approximately $1,790,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC lifted its position in shares of Hologic by 5.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 6,727 shares of the medical equipment provider's stock valued at $416,000 after acquiring an additional 337 shares during the period. CX Institutional bought a new stake in shares of Hologic during the 1st quarter valued at $196,000. Assenagon Asset Management S.A. lifted its position in shares of Hologic by 468.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 457,540 shares of the medical equipment provider's stock valued at $28,262,000 after acquiring an additional 377,092 shares during the period. Integrated Advisors Network LLC lifted its position in shares of Hologic by 5.4% during the 1st quarter. Integrated Advisors Network LLC now owns 5,603 shares of the medical equipment provider's stock valued at $346,000 after acquiring an additional 289 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Hologic by 116.6% during the 1st quarter. SG Americas Securities LLC now owns 9,609 shares of the medical equipment provider's stock valued at $594,000 after acquiring an additional 5,172 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOLX has been the subject of a number of recent analyst reports. Citigroup cut their target price on Hologic from $80.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Raymond James Financial reiterated an "outperform" rating and set a $71.00 target price (down from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Wall Street Zen downgraded Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Argus downgraded Hologic from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Evercore ISI dropped their price objective on Hologic from $65.00 to $62.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $77.42.

Hologic Price Performance

HOLX traded down $0.09 on Wednesday, reaching $64.05. The stock had a trading volume of 1,299,858 shares, compared to its average volume of 2,319,375. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $84.67. The firm has a 50-day moving average of $58.93 and a 200-day moving average of $64.65. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.39 and a beta of 0.55.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

Insiders Place Their Bets

In related news, Director Martin D. Madaus purchased 5,445 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the purchase, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.88% of the company's stock.

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.