Olstein Capital Management L.P. Boosts Stake in Hologic, Inc. (NASDAQ:HOLX)

Olstein Capital Management L.P. boosted its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 27.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,000 shares of the medical equipment provider's stock after buying an additional 25,000 shares during the period. Olstein Capital Management L.P. owned approximately 0.05% of Hologic worth $7,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Hologic by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider's stock valued at $19,547,000 after buying an additional 1,606 shares in the last quarter. Groupama Asset Managment increased its position in Hologic by 63.4% in the 4th quarter. Groupama Asset Managment now owns 54,214 shares of the medical equipment provider's stock valued at $3,918,000 after buying an additional 21,037 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Hologic in the 4th quarter valued at about $4,215,000. Signaturefd LLC boosted its stake in Hologic by 34.5% during the 4th quarter. Signaturefd LLC now owns 2,940 shares of the medical equipment provider's stock valued at $212,000 after purchasing an additional 754 shares during the last quarter. Finally, Brevan Howard Capital Management LP boosted its stake in Hologic by 85.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 19,436 shares of the medical equipment provider's stock valued at $1,401,000 after purchasing an additional 8,960 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Transactions at Hologic

In other Hologic news, Director Martin D. Madaus acquired 5,445 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $55.24 per share, with a total value of $300,781.80. Following the completion of the purchase, the director now owns 5,445 shares of the company's stock, valued at approximately $300,781.80. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.88% of the company's stock.

Hologic Stock Performance

HOLX stock traded up $0.57 during midday trading on Tuesday, reaching $65.14. 2,631,591 shares of the company's stock traded hands, compared to its average volume of 2,302,776. The company has a 50-day moving average price of $58.35 and a two-hundred day moving average price of $65.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. Hologic, Inc. has a 52 week low of $51.90 and a 52 week high of $84.67. The firm has a market capitalization of $14.52 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 2.14 and a beta of 0.55.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James reiterated an "outperform" rating and set a $71.00 price target (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Morgan Stanley cut their target price on Hologic from $77.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Wall Street Zen downgraded Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Citigroup dropped their price objective on Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $77.42.

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.