Canvas Wealth Advisors LLC Has $940,000 Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Canvas Wealth Advisors LLC increased its position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 431.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,158 shares of the medical equipment provider's stock after purchasing an additional 13,119 shares during the quarter. Canvas Wealth Advisors LLC's holdings in Hologic were worth $940,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider's stock worth $42,000 after buying an additional 260 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider's stock worth $43,000 after acquiring an additional 159 shares during the last quarter. Smithfield Trust Co grew its position in Hologic by 160.0% during the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 400 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Hologic during the 4th quarter valued at $49,000. Finally, West Financial Advisors LLC bought a new position in Hologic in the 1st quarter valued at $50,000. 94.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Hologic

In other Hologic news, Director Martin D. Madaus bought 5,445 shares of Hologic stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the acquisition, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stephens lowered their target price on Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Evercore ISI lowered their price objective on shares of Hologic from $65.00 to $62.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Argus lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $77.42.

Hologic Stock Up 1.3%

NASDAQ:HOLX opened at $65.11 on Friday. The stock's fifty day simple moving average is $59.85 and its 200-day simple moving average is $64.14. The firm has a market capitalization of $14.51 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.36 and a beta of 0.55. The company has a quick ratio of 2.52, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. Hologic, Inc. has a 12-month low of $51.90 and a 12-month high of $84.67.

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. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The company's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Equities research analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current 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.

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