CCM Investment Group LLC Makes New Investment in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• CCM Investment Group LLC has acquired a new stake in Hologic, Inc. valued at approximately $793,000, purchasing 12,936 shares during the first quarter of the year.
• Hologic recently reported $1.08 earnings per share (EPS) for the last quarter, surpassing analysts' expectations and showing a 1.2% year-over-year revenue increase.
• Analysts have updated their price targets for Hologic, with Royal Bank Of Canada raising its target from $72.00 to $87.00, reflecting a positive outlook on the stock's performance.

CCM Investment Group LLC purchased a new position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,936 shares of the medical equipment provider's stock, valued at approximately $793,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOLX. Federated Hermes Inc. grew its holdings in Hologic by 35.8% during the 4th quarter. Federated Hermes Inc. now owns 7,720 shares of the medical equipment provider's stock worth $557,000 after acquiring an additional 2,036 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Hologic during the 4th quarter worth $27,007,000. Treasurer of the State of North Carolina grew its holdings in Hologic by 71.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 175,980 shares of the medical equipment provider's stock worth $12,686,000 after acquiring an additional 73,180 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in Hologic by 13.0% during the 4th quarter. Kennedy Capital Management LLC now owns 64,846 shares of the medical equipment provider's stock worth $4,675,000 after acquiring an additional 7,457 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Hologic by 49.3% in the 4th quarter. Covestor Ltd now owns 1,033 shares of the medical equipment provider's stock valued at $75,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Hologic Price Performance

Shares of HOLX stock traded down $0.92 during mid-day trading on Thursday, reaching $68.06. The company's stock had a trading volume of 1,813,622 shares, compared to its average volume of 2,801,299. Hologic, Inc. has a 1-year low of $51.90 and a 1-year high of $84.39. The company has a market cap of $15.14 billion, a P/E ratio of 28.24, a PEG ratio of 2.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.81 and a current ratio of 3.55. The firm's 50-day moving average is $65.43 and its two-hundred day moving average is $62.69.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. On average, research analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Mizuho set a $75.00 price target on shares of Hologic in a report on Thursday, July 31st. UBS Group lifted their price target on shares of Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Citigroup raised shares of Hologic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $60.00 to $80.00 in a research note on Wednesday, July 9th. Stephens reduced their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.83.

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.