Allianz Asset Management GmbH Lowers Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Allianz Asset Management GmbH reduced its stake in Hologic, Inc. by 48.9%, now holding 187,998 shares valued at approximately $11.6 million.
• In contrast, Victory Capital Management Inc. increased its holdings by 34.4%, owning over 6.6 million shares valued at $408.3 million.
• Hologic's latest quarterly earnings report showed an EPS of $1.03, surpassing estimates, although revenue decreased by 1.2% year-over-year.

Allianz Asset Management GmbH reduced its position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 48.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,998 shares of the medical equipment provider's stock after selling 179,787 shares during the period. Allianz Asset Management GmbH owned 0.08% of Hologic worth $11,613,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Hologic by 34.4% during the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after acquiring an additional 1,692,177 shares during the last quarter. Geode Capital Management LLC lifted its stake in Hologic by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider's stock worth $412,159,000 after purchasing an additional 144,838 shares in the last quarter. Invesco Ltd. lifted its stake in Hologic by 16.4% in the 4th quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock worth $293,434,000 after purchasing an additional 572,187 shares in the last quarter. Northern Trust Corp lifted its stake in Hologic by 26.9% in the 4th quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock worth $226,898,000 after purchasing an additional 668,086 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Hologic by 12.5% in the 4th quarter. Hsbc Holdings PLC now owns 2,770,281 shares of the medical equipment provider's stock worth $199,723,000 after purchasing an additional 307,109 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Price Performance

Hologic stock opened at $66.50 on Friday. The company's 50 day simple moving average is $63.33 and its 200-day simple moving average is $62.93. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.44 and a beta of 0.55. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24.

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

Insider Activity

In other Hologic news, Director Martin D. Madaus acquired 5,445 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired 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 owned 5,445 shares in the company, valued at $300,781.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. Stephens dropped their target price on Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Citigroup upgraded Hologic from a "neutral" rating to a "buy" rating and upped their target price for the company from $60.00 to $80.00 in a report on Wednesday, July 9th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $71.00 price target (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $77.33.

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.

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