Entropy Technologies LP Buys 24,143 Shares of Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Entropy Technologies LP significantly increased its stake in Hologic, Inc. by 287.4%, acquiring an additional 24,143 shares, bringing its total holdings to 32,543 shares valued at approximately $2,010,000.
• Hologic reported a quarterly earnings per share (EPS) of $1.08, exceeding analysts' expectations of $1.05, with a revenue of $1.02 billion, reflecting a 1.2% year-over-year increase.
• Wall Street analysts' ratings for Hologic are mixed, with a consensus of 10 hold ratings, 7 buy ratings, and 1 strong buy rating, alongside an average target price of $77.83.

Entropy Technologies LP raised its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 287.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,543 shares of the medical equipment provider's stock after buying an additional 24,143 shares during the period. Entropy Technologies LP's holdings in Hologic were worth $2,010,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HOLX. Zions Bancorporation National Association UT bought a new position in shares of Hologic in the 1st quarter worth $34,000. Allworth Financial LP increased its holdings in shares of Hologic by 46.0% in the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock worth $40,000 after buying an additional 216 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Hologic in the 1st quarter worth $42,000. Larson Financial Group LLC grew its holdings in shares of Hologic by 6,016.7% during the 1st quarter. Larson Financial Group LLC now owns 734 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 722 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Hologic during the 4th quarter valued at $49,000. Institutional investors own 94.73% of the company's stock.

Hologic Price Performance

Shares of Hologic stock opened at $68.06 on Monday. The company's fifty day simple moving average is $65.09 and its two-hundred day simple moving average is $62.63. Hologic, Inc. has a 12-month low of $51.90 and a 12-month high of $84.67. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. The firm has a market cap of $15.14 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on HOLX. Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Morgan Stanley increased their target price on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group increased their target price on shares of Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Raymond James Financial reaffirmed an "outperform" rating and set a $71.00 target price (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Finally, Mizuho set a $75.00 target price on shares of Hologic in a report on Thursday, July 31st. Ten equities research 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $77.83.

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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