Patton Fund Management Inc. Purchases New Shares in Hologic, Inc. $HOLX

Key Points

• Patton Fund Management Inc. acquired a new stake in Hologic, purchasing 3,795 shares valued at approximately $247,000 in Q2, reflecting increasing interest from institutional investors, who now own 94.73% of the company's stock.
• CEO Stephen P. Macmillan sold 138,358 shares for over $9 million, reducing his position by 10.08%, but he still retains more than 1.2 million shares valued at about $82.7 million.
• Wall Street analysts have shown positive outlooks for Hologic, with a consensus rating of "Moderate Buy" and a price target of $79.38, indicating potential for growth.

Patton Fund Management Inc. purchased a new stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,795 shares of the medical equipment provider's stock, valued at approximately $247,000.

A number of other institutional investors have also made changes to their positions in the business. CX Institutional raised its holdings in shares of Hologic by 16.1% in the second quarter. CX Institutional now owns 3,693 shares of the medical equipment provider's stock valued at $241,000 after buying an additional 513 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Hologic by 5.9% in the second quarter. Fifth Third Bancorp now owns 26,974 shares of the medical equipment provider's stock valued at $1,758,000 after buying an additional 1,496 shares during the last quarter. Golden State Equity Partners bought a new position in shares of Hologic in the second quarter valued at about $410,000. GAMMA Investing LLC raised its holdings in shares of Hologic by 129.4% in the second quarter. GAMMA Investing LLC now owns 7,269 shares of the medical equipment provider's stock valued at $474,000 after buying an additional 4,100 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Hologic by 38.3% in the second quarter. Farther Finance Advisors LLC now owns 2,538 shares of the medical equipment provider's stock valued at $165,000 after buying an additional 703 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Activity

In other Hologic news, CEO Stephen P. Macmillan sold 138,358 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $66.97, for a total value of $9,265,835.26. Following the sale, the chief executive officer owned 1,234,624 shares in the company, valued at approximately $82,682,769.28. The trade was a 10.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HOLX. Stephens reaffirmed an "overweight" rating and issued a $78.00 price target on shares of Hologic in a report on Thursday, September 18th. Morgan Stanley lifted their price objective on Hologic from $65.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Hologic from a "hold" rating to a "buy" rating in a research report on Tuesday, September 23rd. Royal Bank Of Canada upgraded Hologic from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $72.00 to $87.00 in a research report on Wednesday, August 6th. Finally, Evercore ISI lifted their price objective on Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.38.

Hologic Price Performance

Hologic stock opened at $67.21 on Friday. The firm has a market capitalization of $14.95 billion, a P/E ratio of 27.89, a PEG ratio of 2.44 and a beta of 0.57. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.39. The business has a 50-day moving average of $66.76 and a 200-day moving average of $62.88. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $1.06 EPS. Hologic's quarterly 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. On average, equities analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

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.

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