Hologic, Inc. $HOLX Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN decreased its holdings in Hologic, Inc. by 49.7% in Q2 2023, owning 4,267 shares worth approximately $278,000 after selling 4,208 shares.
• CEO Stephen P. Macmillan sold 138,358 shares on September 22, 2023, resulting in a 10.08% decrease in his position, now valued at around $82.68 million.
• Hologic's stock saw a price increase of 2.2% and reported earnings of $1.08 per share, surpassing analysts' expectations of $1.05.

Patten & Patten Inc. TN cut its holdings in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 49.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,267 shares of the medical equipment provider's stock after selling 4,208 shares during the quarter. Patten & Patten Inc. TN's holdings in Hologic were worth $278,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Chung Wu Investment Group LLC acquired a new stake in shares of Hologic in the second quarter valued at approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in Hologic during the first quarter worth approximately $34,000. Cromwell Holdings LLC boosted its position in Hologic by 307.0% during the second quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 436 shares during the last quarter. Allworth Financial LP boosted its position in Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock worth $40,000 after acquiring an additional 216 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Hologic during the first quarter worth approximately $42,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hologic

In other news, CEO Stephen P. Macmillan sold 138,358 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $66.97, for a total value of $9,265,835.26. Following the transaction, the chief executive officer owned 1,234,624 shares of the company's stock, valued at approximately $82,682,769.28. This trade represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.88% of the company's stock.

Hologic Stock Up 2.2%

Shares of HOLX opened at $68.50 on Friday. The firm has a market cap of $15.24 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.30 and a beta of 0.63. The company's fifty day moving average is $67.08 and its two-hundred day moving average is $63.45. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $84.39. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.03. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.06 EPS. Hologic's revenue for the quarter was up 1.2% on a year-over-year basis. Hologic has set its Q4 2025 guidance at 1.090-1.120 EPS. FY 2025 guidance at 4.230-4.260 EPS. Analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

HOLX has been the topic of a number of analyst reports. Mizuho set a $75.00 target price on shares of Hologic in a research report on Thursday, July 31st. Citigroup upgraded shares of Hologic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $60.00 to $80.00 in a research report on Wednesday, July 9th. UBS Group raised their target price on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upgraded shares of Hologic from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $72.00 to $87.00 in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.15.

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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