Financial Harvest LLC Invests $297,000 in Hologic, Inc. (NASDAQ:HOLX)

Financial Harvest LLC acquired a new position in Hologic, Inc. (NASDAQ:HOLX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,801 shares of the medical equipment provider's stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HOLX. Victory Capital Management Inc. increased its position in shares of Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after purchasing an additional 1,692,177 shares during the period. Geode Capital Management LLC increased its position in shares of Hologic by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider's stock valued at $412,159,000 after purchasing an additional 144,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Hologic by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider's stock valued at $322,272,000 after purchasing an additional 129,035 shares during the period. Invesco Ltd. increased its position in shares of Hologic by 16.4% during the 4th quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock valued at $293,434,000 after purchasing an additional 572,187 shares during the period. Finally, Northern Trust Corp increased its position 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 during the period. 94.73% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Martin D. Madaus bought 5,445 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought 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 directly owned 5,445 shares in the company, valued at approximately $300,781.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.88% of the company's stock.

Hologic Stock Down 0.0%

Shares of NASDAQ:HOLX traded down $0.03 during midday trading on Friday, hitting $63.99. 1,582,099 shares of the stock were exchanged, compared to its average volume of 2,386,077. 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, Inc. has a 52-week low of $51.90 and a 52-week high of $84.67. The business's fifty day simple moving average is $62.46 and its two-hundred day simple moving average is $63.18. The company has a market capitalization of $14.26 billion, a PE ratio of 27.00, a P/E/G ratio of 2.35 and a beta of 0.55.

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

Wall Street Analyst Weigh In

HOLX has been the subject of several research reports. Morgan Stanley reduced their price objective on Hologic from $77.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Citigroup raised Hologic from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $60.00 to $80.00 in a research note on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and set a $71.00 price objective (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Wall Street Zen lowered Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price objective on Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $77.33.

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.