Hologic, Inc. (NASDAQ:HOLX) Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Hologic, Inc. by 46.3% during the 1st quarter, owning approximately 1.28 million shares valued at $79.2 million.
• Hologic reported earnings of $1.08 per share for the recent quarter, surpassing analysts' expectations and reflecting a 1.2% revenue increase compared to the previous year.
• Analysts have set a consensus target price of $77.83 for Hologic shares, with a mix of ratings indicating a "Moderate Buy" sentiment among ten research analysts.

Citigroup Inc. boosted its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 46.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,281,985 shares of the medical equipment provider's stock after purchasing an additional 405,819 shares during the period. Citigroup Inc. owned about 0.58% of Hologic worth $79,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Hologic by 46.0% during the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock valued at $40,000 after acquiring an additional 216 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Hologic during the 1st quarter worth approximately $42,000. Larson Financial Group LLC increased its stake 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 worth $45,000 after purchasing an additional 722 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Hologic during the 4th quarter worth approximately $49,000. Finally, West Financial Advisors LLC purchased a new position in shares of Hologic during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Stock Up 1.5%

Shares of NASDAQ:HOLX traded up $1.03 during midday trading on Wednesday, hitting $68.98. 1,744,833 shares of the company's stock traded hands, compared to its average volume of 2,804,755. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.81 and a current ratio of 3.55. The company has a market cap of $15.34 billion, a PE ratio of 28.62, a P/E/G ratio of 2.47 and a beta of 0.49. The firm's fifty day moving average price is $65.30 and its two-hundred day moving average price is $62.64. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $84.39.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share for the quarter, beating 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

HOLX has been the subject of a number of recent research reports. Wall Street Zen cut shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. UBS Group raised their price objective on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. 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. Finally, Morgan Stanley lifted their target price on shares of Hologic from $65.00 to $69.00 and gave the stock an "equal weight" rating in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.