Headlands Technologies LLC Purchases 14,925 Shares of Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Headlands Technologies LLC increased its stake in Hologic, Inc. by 61.1%, acquiring an additional 14,925 shares, bringing its total to 39,344 shares valued at approximately $2.43 million.
• Several analysts have issued new price targets for Hologic, with Citigroup raising its target from $60 to $80 and Royal Bank of Canada increasing it from $72 to $87.
• Hologic reported a net income of $1.08 EPS for the last quarter, surpassing analysts' expectations, and recorded a 1.2% year-over-year revenue increase to $1.02 billion.

Headlands Technologies LLC lifted its stake in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 61.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,344 shares of the medical equipment provider's stock after buying an additional 14,925 shares during the period. Headlands Technologies LLC's holdings in Hologic were worth $2,430,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock valued at $40,000 after buying an additional 216 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Hologic during the first quarter valued at approximately $42,000. Larson Financial Group LLC boosted its position in shares of Hologic by 6,016.7% during the first quarter. Larson Financial Group LLC now owns 734 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 722 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Hologic during the fourth quarter valued at approximately $49,000. Finally, West Financial Advisors LLC purchased a new position in shares of Hologic during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on HOLX shares. Citigroup raised Hologic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $60.00 to $80.00 in a research report on Wednesday, July 9th. Royal Bank Of Canada raised Hologic from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $72.00 to $87.00 in a research report on Wednesday. Evercore ISI boosted their price objective on Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Raymond James Financial restated an "outperform" rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Finally, UBS Group upped their price objective on Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.83.

Hologic Stock Down 1.4%

Shares of NASDAQ HOLX opened at $66.89 on Thursday. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81. The business's fifty day moving average price is $64.87 and its 200-day moving average price is $62.77. The stock has a market capitalization of $14.88 billion, a PE ratio of 27.76, a P/E/G ratio of 2.46 and a beta of 0.49.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.03. Hologic had a return on equity of 19.69% and a net margin of 13.79%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Hologic, Inc. will post 4.28 EPS 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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