Bridges Investment Management Inc. Buys 12,234 Shares of Hologic, Inc. (NASDAQ:HOLX)

Bridges Investment Management Inc. grew its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 111.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,227 shares of the medical equipment provider's stock after acquiring an additional 12,234 shares during the quarter. Bridges Investment Management Inc.'s holdings in Hologic were worth $1,435,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Hologic in the 4th quarter valued at $133,414,000. Boston Partners grew its stake in Hologic by 81.0% in the fourth quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock valued at $257,959,000 after acquiring an additional 1,602,463 shares during the period. Champlain Investment Partners LLC bought a new stake in shares of Hologic in the fourth quarter worth about $79,291,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Hologic during the first quarter worth about $3,534,000. Finally, Northern Trust Corp lifted its holdings in shares of Hologic by 26.9% during the 4th quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock valued at $226,898,000 after purchasing an additional 668,086 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Insiders Place Their Bets

In other news, Director Martin D. Madaus acquired 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 transaction, the director directly owned 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.88% of the company's stock.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $65.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 2.52. The business has a 50-day moving average of $61.12 and a 200-day moving average of $63.63. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.38 and a beta of 0.55. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $1.03 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen cut Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Raymond James Financial reiterated an "outperform" rating and issued a $71.00 price target (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Stephens dropped their price objective on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Finally, Royal Bank Of Canada dropped their price target on Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $78.75.

About Hologic

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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