Nisa Investment Advisors LLC Decreases Position in Hologic, Inc. (NASDAQ:HOLX)

Nisa Investment Advisors LLC cut its stake in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 40.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,267 shares of the medical equipment provider's stock after selling 25,477 shares during the period. Nisa Investment Advisors LLC's holdings in Hologic were worth $2,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Hologic during the fourth quarter valued at $133,414,000. Boston Partners grew its stake in Hologic by 81.0% in the fourth quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock valued at $257,959,000 after purchasing an additional 1,602,463 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Hologic in the fourth quarter valued at about $79,291,000. Redwood Wealth Management Group LLC purchased a new position in Hologic in the first quarter valued at about $3,534,000. Finally, Northern Trust Corp grew its stake in Hologic by 26.9% in the fourth quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock valued at $226,898,000 after purchasing an additional 668,086 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Hologic Trading Up 0.3%

HOLX traded up $0.16 during trading on Thursday, reaching $64.02. 1,516,492 shares of the stock traded hands, compared to its average volume of 2,386,175. The company has a quick ratio of 2.52, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $14.27 billion, a PE ratio of 27.01, a P/E/G ratio of 2.34 and a beta of 0.55. The stock's 50-day moving average is $62.31 and its 200 day moving average is $63.30. Hologic, Inc. has a 12 month low of $51.90 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Martin D. Madaus purchased 5,445 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director directly owned 5,445 shares in the company, valued at approximately $300,781.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.88% of the company's stock.

Analysts Set New Price Targets

HOLX has been the topic of a number of recent analyst reports. Stephens cut their price objective on Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley reduced their target price on Hologic from $77.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Mizuho boosted their target price on Hologic from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday. Wall Street Zen lowered Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, Citigroup upgraded Hologic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $60.00 to $80.00 in a report on Wednesday, July 9th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $77.33.

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.