Parnassus Investments LLC Sells 336,550 Shares of Hologic, Inc. $HOLX

Key Points

• Parnassus Investments LLC reduced its stake in Hologic, Inc. by 31.6%, selling 336,550 shares, resulting in ownership of approximately 726,871 shares worth $44.9 million.
• Hologic received multiple upgrades from analysts, including target price increases from Citigroup and Royal Bank Of Canada, with an average price target now set at $78.00.
• Hologic reported earnings of $1.08 per share for the recent quarter, exceeding estimates and showing a year-over-year revenue growth of 1.2% with a forecast of EPS guidance set for FY 2025 at 4.230-4.260.

Parnassus Investments LLC lessened its stake in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 31.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 726,871 shares of the medical equipment provider's stock after selling 336,550 shares during the period. Parnassus Investments LLC owned about 0.33% of Hologic worth $44,899,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in 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 worth $408,283,000 after purchasing an additional 1,692,177 shares in the last quarter. Nuance Investments LLC increased its position in shares of Hologic by 623.7% in the first quarter. Nuance Investments LLC now owns 1,081,333 shares of the medical equipment provider's stock worth $66,794,000 after acquiring an additional 931,920 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Hologic in the first quarter worth approximately $3,534,000. Invesco Ltd. raised its holdings in shares of Hologic by 18.8% during the first quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider's stock valued at $298,655,000 after acquiring an additional 764,573 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Hologic by 26.9% in the 4th quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock valued at $226,898,000 after acquiring an additional 668,086 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Stock Performance

HOLX stock traded down $0.56 during mid-day trading on Tuesday, reaching $66.57. 555,144 shares of the stock traded hands, compared to its average volume of 2,723,436. The firm has a market capitalization of $14.81 billion, a PE ratio of 27.62, a P/E/G ratio of 2.44 and a beta of 0.57. The business has a 50-day moving average of $66.20 and a two-hundred day moving average of $62.52. Hologic, Inc. has a 52 week low of $51.90 and a 52 week high of $84.39. 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 posted its quarterly earnings data 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. Hologic had a return on equity of 19.69% and a net margin of 13.79%.The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. 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 analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HOLX. Argus raised shares of Hologic from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Monday, August 18th. Morgan Stanley upped their price target on Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Citigroup raised 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. Mizuho set a $75.00 target price on Hologic in a research note on Thursday, July 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Hologic presently has an average rating of "Moderate Buy" and an average price target of $78.00.

Hologic 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.