iA Global Asset Management Inc. Decreases Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• iA Global Asset Management Inc. reduced its Hologic holdings by 42.6%, selling 5,702 shares during the first quarter and now owning 7,696 shares valued at $475,000.
• Multiple institutional investors have increased their positions in Hologic, with significant purchases leading to a 116.6% increase in holdings from SG Americas Securities LLC during the same period.
• Hologic recently reported earnings of $1.08 per share, exceeding analysts' expectations, with a revenue of $1.02 billion, reflecting a 1.2% year-over-year growth.

iA Global Asset Management Inc. decreased its holdings in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,696 shares of the medical equipment provider's stock after selling 5,702 shares during the quarter. iA Global Asset Management Inc.'s holdings in Hologic were worth $475,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HOLX. Victory Capital Management Inc. lifted its position in shares of Hologic by 34.4% in the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock worth $408,283,000 after purchasing an additional 1,692,177 shares in the last quarter. Invesco Ltd. lifted its position in shares of Hologic by 16.4% in 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 in the last quarter. Northern Trust Corp raised its position in Hologic by 26.9% during the fourth quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock worth $226,898,000 after acquiring an additional 668,086 shares in the last quarter. Hsbc Holdings PLC raised its position in Hologic by 12.5% during the fourth quarter. Hsbc Holdings PLC now owns 2,770,281 shares of the medical equipment provider's stock worth $199,723,000 after acquiring an additional 307,109 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Hologic by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,625,290 shares of the medical equipment provider's stock worth $189,264,000 after acquiring an additional 169,427 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Stock Up 0.2%

HOLX traded up $0.13 during trading on Friday, reaching $68.06. The stock had a trading volume of 1,889,601 shares, compared to its average volume of 1,757,182. The stock's 50 day moving average is $65.09 and its two-hundred day moving average is $62.68. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.47 and a beta of 0.49. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly 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 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 the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.06 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. As a group, analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on HOLX. UBS Group upped their price target on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Morgan Stanley upped their price target on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Citigroup upgraded shares of Hologic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $60.00 to $80.00 in a research note on Wednesday, July 9th. Needham & Company LLC reiterated a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $71.00 target price (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hologic has an average rating of "Moderate Buy" and an average price target 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.