Mitsubishi UFJ Asset Management Co. Ltd. Has $276.30 Million Stake in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Hologic, Inc. by 1.6% during Q1, now holding 4,473,098 shares valued at approximately $276 million.
• Hologic's recent earnings report showed earnings per share of $1.08, exceeding analysts' expectations and reflecting a 1.2% increase in revenue year-over-year.
• Hologic's stock rating has been mixed, with several analysts issuing target prices ranging from $70.00 to $75.00, reflecting varying confidence in the stock's future performance.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,473,098 shares of the medical equipment provider's stock after purchasing an additional 69,878 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 1.99% of Hologic worth $276,303,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HOLX. Resona Asset Management Co. Ltd. bought a new stake in Hologic in the fourth quarter valued at $6,090,000. Federated Hermes Inc. grew its holdings in shares of Hologic by 35.8% during the fourth quarter. Federated Hermes Inc. now owns 7,720 shares of the medical equipment provider's stock worth $557,000 after purchasing an additional 2,036 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Hologic by 45.1% during the fourth quarter. Bank of Montreal Can now owns 714,377 shares of the medical equipment provider's stock worth $51,499,000 after purchasing an additional 222,167 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Hologic by 16.4% during the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock worth $293,434,000 after purchasing an additional 572,187 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Hologic by 227.8% during the fourth quarter. Bank of Nova Scotia now owns 97,612 shares of the medical equipment provider's stock worth $7,037,000 after purchasing an additional 67,832 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Trading Up 0.2%

NASDAQ:HOLX traded up $0.13 during mid-day trading on Friday, hitting $68.06. The company had a trading volume of 1,889,601 shares, compared to its average volume of 1,757,182. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $84.67. The business's fifty day moving average is $65.09 and its two-hundred day moving average is $62.74. 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 firm has a market cap of $15.14 billion, a P/E ratio of 28.24, a P/E/G ratio of 2.46 and a beta of 0.49.

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 (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Hologic had a return on equity of 19.69% and a net margin of 13.79%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on HOLX. Morgan Stanley increased their target price on Hologic from $65.00 to $69.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Mizuho set a $75.00 target price on Hologic in a report on Thursday, July 31st. UBS Group increased their target price on Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Evercore ISI increased their target price on Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Finally, Stephens decreased their target price on Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.83.

Hologic Company 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.