Invesco Ltd. Purchases 764,573 Shares of Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Invesco Ltd. increased its stake in Hologic, Inc. by 18.8%, owning nearly 4.8 million shares valued at approximately $298.7 million as of the latest SEC filing.
• Hologic reported a net income of $1.08 earnings per share for the last quarter, surpassing analyst expectations and showing a 1.2% year-over-year revenue growth to $1.02 billion.
• Analysts have a consensus rating of "Moderate Buy" on Hologic with an average price target of $77.83, as various brokerages have adjusted their price objectives accordingly.

Invesco Ltd. boosted its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 18.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,834,957 shares of the medical equipment provider's stock after acquiring an additional 764,573 shares during the period. Invesco Ltd. owned 2.17% of Hologic worth $298,655,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in shares of Hologic by 22.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,835 shares of the medical equipment provider's stock worth $113,000 after buying an additional 335 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Hologic by 116.6% during the 1st quarter. SG Americas Securities LLC now owns 9,609 shares of the medical equipment provider's stock worth $594,000 after buying an additional 5,172 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of 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 worth $1,401,000 after buying an additional 8,960 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Hologic by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,056 shares of the medical equipment provider's stock worth $1,980,000 after buying an additional 528 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Hologic by 4.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,945 shares of the medical equipment provider's stock worth $1,108,000 after buying an additional 767 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HOLX. Wall Street Zen cut Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. UBS Group upped their target price on Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised Hologic from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $72.00 to $87.00 in a research report on Wednesday, August 6th. Finally, Morgan Stanley upped 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. Ten investment 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's stock. According to MarketBeat.com, Hologic presently has an average rating of "Moderate Buy" and an average target price of $77.83.

Hologic Stock Performance

Shares of Hologic stock traded down $0.25 during trading hours on Friday, hitting $67.81. 4,294,477 shares of the company's stock traded hands, compared to its average volume of 1,738,030. Hologic, Inc. has a 12-month low of $51.90 and a 12-month high of $84.39. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.46 and a beta of 0.49. The company has a fifty day simple moving average of $65.60 and a 200-day simple moving average of $62.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81.

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

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.