Otter Creek Advisors LLC Purchases New Position in Hologic, Inc. $HOLX

Key Points

• Otter Creek Advisors LLC has acquired a new position in Hologic, Inc., purchasing 60,172 shares valued at approximately $3,921,000, which now represents about 2.8% of their portfolio.
• Hologic's CEO, Stephen P. Macmillan, sold 138,358 shares for over $9.25 million, resulting in a 10.08% reduction in his stake in the company.
• Several analysts have recently adjusted their price targets for Hologic, with estimates ranging from $70.00 to $90.00, indicating mixed sentiments around its future performance.

Otter Creek Advisors LLC purchased a new stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 60,172 shares of the medical equipment provider's stock, valued at approximately $3,921,000. Hologic accounts for approximately 2.8% of Otter Creek Advisors LLC's portfolio, making the stock its 19th largest position.

A number of other hedge funds have also modified their holdings of HOLX. Victory Capital Management Inc. raised its position in shares of Hologic by 34.4% in the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after acquiring an additional 1,692,177 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Hologic by 473.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider's stock worth $111,180,000 after purchasing an additional 1,405,085 shares in the last quarter. Nuance Investments LLC increased its stake in Hologic by 623.7% during the 1st quarter. Nuance Investments LLC now owns 1,081,333 shares of the medical equipment provider's stock worth $66,794,000 after purchasing an additional 931,920 shares in the last quarter. Invesco Ltd. increased its stake in Hologic by 18.8% during the 1st quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider's stock worth $298,655,000 after purchasing an additional 764,573 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Hologic during the 1st quarter worth approximately $30,317,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hologic

In other news, CEO Stephen P. Macmillan sold 138,358 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $66.97, for a total transaction of $9,265,835.26. Following the completion of the transaction, the chief executive officer directly owned 1,234,624 shares of the company's stock, valued at $82,682,769.28. This trade represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is owned by corporate insiders.

Hologic Price Performance

Shares of HOLX opened at $69.85 on Friday. The stock has a market capitalization of $15.54 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.35 and a beta of 0.63. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $84.39. The company has a 50 day moving average of $67.11 and a 200-day moving average of $63.51. The company has a quick ratio of 2.81, a current ratio of 3.55 and a debt-to-equity ratio of 0.52.

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, topping the consensus estimate of $1.05 by $0.03. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. Hologic has set its Q4 2025 guidance at 1.090-1.120 EPS. FY 2025 guidance at 4.230-4.260 EPS. As a group, equities research analysts forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI set a $78.00 target price on Hologic and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Argus increased their target price on Hologic from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. UBS Group increased their target price on Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Mizuho set a $75.00 target price on Hologic in a research note on Thursday, July 31st. Finally, Wall Street Zen cut Hologic from a "buy" rating to a "hold" rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $80.15.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.