Nuance Investments LLC Purchases 931,920 Shares of Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Nuance Investments LLC significantly increased its stake in Hologic, Inc. by 623.7%, acquiring over 931,920 shares in the first quarter, making it the fund's 8th largest position.
• Several other institutional investors, including Victory Capital Management Inc. and Invesco Ltd., also increased their holdings in Hologic, indicating strong institutional interest in the company.
• Equities analysts have a generally positive outlook for Hologic, with the stock having an average rating of "Moderate Buy" and a consensus target price of $77.83.

Nuance Investments LLC raised its holdings in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 623.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,081,333 shares of the medical equipment provider's stock after acquiring an additional 931,920 shares during the period. Hologic makes up approximately 4.4% of Nuance Investments LLC's investment portfolio, making the stock its 8th largest position. Nuance Investments LLC owned about 0.49% of Hologic worth $66,794,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HOLX. Victory Capital Management Inc. increased its holdings in shares of Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock worth $408,283,000 after buying an additional 1,692,177 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Hologic by 18.8% during the 1st quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider's stock worth $298,655,000 after buying an additional 764,573 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Hologic by 1.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,473,098 shares of the medical equipment provider's stock worth $276,303,000 after buying an additional 69,878 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Hologic by 26.9% during 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 last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Hologic by 12.5% during 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 last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HOLX. Raymond James Financial restated an "outperform" rating and set a $71.00 price target (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. UBS Group lifted their target price on shares of Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Morgan Stanley lifted their target price on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Mizuho set a $75.00 target price on shares of Hologic in a report on Thursday, July 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Hologic in a report on Tuesday, May 27th. Ten 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.83.

Hologic Stock Up 1.5%

HOLX stock traded up $1.03 during midday trading on Wednesday, hitting $68.98. The company's stock had a trading volume of 1,746,581 shares, compared to its average volume of 1,708,530. Hologic, Inc. has a 52-week low of $51.90 and a 52-week high of $84.39. The firm has a 50-day simple moving average of $65.43 and a 200-day simple moving average of $62.69. The firm has a market capitalization of $15.34 billion, a P/E ratio of 28.62, a PEG ratio of 2.47 and a beta of 0.49. 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 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. 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 period last year, the business earned $1.06 EPS. The company's revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that Hologic, Inc. will post 4.28 EPS for the current year.

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.