Hologic, Inc. (NASDAQ:HOLX) Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its holdings in Hologic, Inc. by 45.8% during the first quarter, now owning about 142,322 shares worth approximately $8.79 million.
• Hologic's latest earnings report indicated a net margin of 13.79% with a 1.2% increase in revenue year-over-year, reporting $1.02 billion in revenue and $1.08 earnings per share.
• Institutional investors control 94.73% of Hologic's stock, indicating strong confidence from market participants, while the company has a consensus rating of "Hold" with an average target price of $76.42.

Bank of Nova Scotia lifted its holdings in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 45.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,322 shares of the medical equipment provider's stock after purchasing an additional 44,710 shares during the quarter. Bank of Nova Scotia owned about 0.06% of Hologic worth $8,791,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in shares of Hologic by 34.4% during the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock worth $408,283,000 after purchasing an additional 1,692,177 shares during the last quarter. Invesco Ltd. raised its position in shares of Hologic by 16.4% in the 4th quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock worth $293,434,000 after buying an additional 572,187 shares during the period. Northern Trust Corp raised its position in shares of Hologic by 26.9% in the 4th quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock worth $226,898,000 after buying an additional 668,086 shares during the period. Hsbc Holdings PLC raised its position in shares of Hologic by 12.5% in the 4th quarter. Hsbc Holdings PLC now owns 2,770,281 shares of the medical equipment provider's stock worth $199,723,000 after buying an additional 307,109 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Hologic by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,625,290 shares of the medical equipment provider's stock worth $189,264,000 after buying an additional 169,427 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HOLX. Needham & Company LLC reaffirmed a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Wall Street Zen lowered Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Royal Bank Of Canada cut their target price on Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley increased their target price on Hologic from $65.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Mizuho set a $75.00 target price on Hologic in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $76.42.

Hologic Stock Performance

NASDAQ:HOLX opened at $67.91 on Tuesday. 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 firm has a 50-day moving average of $64.69 and a two-hundred day moving average of $62.71. The stock has a market cap of $15.10 billion, a P/E ratio of 28.18, a PEG ratio of 2.43 and a beta of 0.49. Hologic, Inc. has a 1-year low of $51.90 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings data 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. The company 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 period in the prior year, the company posted $1.06 EPS. On average, research analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Hologic

In related news, Director Martin D. Madaus purchased 5,445 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the transaction, the director owned 5,445 shares of the company's stock, valued at $300,781.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.88% of the company's stock.

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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