Liberty Wealth Management LLC Purchases New Holdings in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• Liberty Wealth Management LLC has invested approximately $660,000 in Hologic, Inc. by acquiring 10,686 shares in the first quarter.
• Analysts have set a consensus price target of $76.42 for Hologic, with differing ratings from several firms, highlighting a mixed outlook.
• Hologic's recent earnings report indicated EPS of $1.08, surpassing estimates, with a year-over-year revenue increase of 1.2%.

Liberty Wealth Management LLC purchased a new position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,686 shares of the medical equipment provider's stock, valued at approximately $660,000.

A number of other hedge funds also recently modified their holdings of HOLX. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hologic by 56.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 44,291 shares of the medical equipment provider's stock worth $3,193,000 after purchasing an additional 16,012 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Hologic in the 4th quarter worth about $6,090,000. Federated Hermes Inc. raised its position in shares of Hologic by 35.8% in the 4th quarter. Federated Hermes Inc. now owns 7,720 shares of the medical equipment provider's stock worth $557,000 after acquiring an additional 2,036 shares in the last quarter. Prospector Partners LLC raised its position in shares of Hologic by 20.9% in the 4th quarter. Prospector Partners LLC now owns 160,491 shares of the medical equipment provider's stock worth $11,570,000 after acquiring an additional 27,786 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Hologic by 45.1% in the 4th quarter. Bank of Montreal Can now owns 714,377 shares of the medical equipment provider's stock worth $51,499,000 after acquiring an additional 222,167 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HOLX shares. Morgan Stanley upped their price objective 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. Raymond James Financial restated 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. UBS Group upped their target price on shares of Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Royal Bank Of Canada reduced their price objective on shares of Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, Stephens reduced their price objective on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $76.42.

Insider Transactions at Hologic

In related news, Director Martin D. Madaus acquired 5,445 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the transaction, the director owned 5,445 shares in the company, valued at $300,781.80. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.88% of the stock is owned by corporate insiders.

Hologic Stock Performance

Shares of HOLX stock traded down $0.09 during trading on Tuesday, reaching $67.82. 1,100,244 shares of the company's stock traded hands, compared to its average volume of 1,863,813. The company has a market capitalization of $15.08 billion, a P/E ratio of 28.14, a PEG ratio of 2.46 and a beta of 0.49. 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 firm's 50-day moving average is $64.69 and its 200 day moving average is $62.71. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the company posted $1.06 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect 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.