Hologic, Inc. (NASDAQ:HOLX) Shares Purchased by King Wealth Management Group

Key Points

• King Wealth Management Group increased its holdings in Hologic, Inc. by 115.9% during the 1st quarter, now owning 31,850 shares worth approximately $1.97 million.
• Brokerages have mixed opinions on Hologic, with Mizuho raising their price target to $70.00, while others like Stephens and Royal Bank of Canada, also adjusted their targets down to $70.00.
• Hologic reported $1.08 EPS for the latest quarter, exceeding estimates, and showed a 1.2% increase in revenue compared to the same quarter last year.

King Wealth Management Group lifted its stake in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 115.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,850 shares of the medical equipment provider's stock after acquiring an additional 17,100 shares during the quarter. King Wealth Management Group's holdings in Hologic were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in 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 valued at $408,283,000 after buying an additional 1,692,177 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Hologic in the 4th quarter valued at about $79,291,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Hologic during the 1st quarter worth about $3,534,000. Northern Trust Corp lifted its stake 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 purchasing an additional 668,086 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Hologic by 16.4% in the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock valued at $293,434,000 after purchasing an additional 572,187 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Trading Up 0.5%

Shares of HOLX stock traded up $0.34 during mid-day trading on Friday, reaching $67.16. The company's stock had a trading volume of 1,863,529 shares, compared to its average volume of 1,799,668. Hologic, Inc. has a 12-month low of $51.90 and a 12-month high of $84.67. The firm has a market capitalization of $14.97 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. The company has a quick ratio of 2.52, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. The company's 50 day simple moving average is $64.42 and its 200-day simple moving average is $62.81.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, topping 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 analysts' expectations of $1.01 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity at Hologic

In other news, Director Martin D. Madaus purchased 5,445 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the acquisition, the director owned 5,445 shares of the company's stock, valued at $300,781.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Morgan Stanley boosted their price target on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday. Raymond James Financial restated an "outperform" rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Citigroup upgraded Hologic from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $80.00 in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada decreased their target price on Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Hologic has a consensus rating of "Hold" and an average target price of $76.42.

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.