Praxis Investment Management Inc. Purchases Shares of 3,890 Hologic, Inc. (NASDAQ:HOLX)

Praxis Investment Management Inc. bought a new position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,890 shares of the medical equipment provider's stock, valued at approximately $240,000.

Several other large investors have also recently made changes to their positions in the stock. Abundance Wealth Counselors grew its holdings in shares of Hologic by 10.5% in the first quarter. Abundance Wealth Counselors now owns 11,994 shares of the medical equipment provider's stock valued at $741,000 after purchasing an additional 1,144 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Hologic by 26.8% in the first quarter. Blue Trust Inc. now owns 7,637 shares of the medical equipment provider's stock valued at $472,000 after acquiring an additional 1,616 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Hologic in the first quarter valued at $3,534,000. Insigneo Advisory Services LLC grew its stake in Hologic by 6.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 6,428 shares of the medical equipment provider's stock worth $397,000 after purchasing an additional 367 shares in the last quarter. Finally, BDF Gestion increased its holdings in Hologic by 143.4% during the 1st quarter. BDF Gestion now owns 54,312 shares of the medical equipment provider's stock worth $3,355,000 after purchasing an additional 32,000 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOLX has been the subject of a number of analyst reports. Raymond James Financial reissued an "outperform" rating and set a $71.00 price objective (down from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Evercore ISI dropped their price objective on shares of Hologic from $65.00 to $62.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Argus downgraded shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Stephens decreased their price target on Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Hologic in a report on Tuesday, May 27th. Twelve investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.42.

Hologic Stock Performance

Shares of NASDAQ HOLX traded down $0.10 during midday trading on Friday, reaching $65.01. 3,320,131 shares of the company were exchanged, compared to its average volume of 2,371,675. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The stock has a market cap of $14.49 billion, a P/E ratio of 27.43, a PEG ratio of 2.36 and a beta of 0.55. The stock has a fifty day simple moving average of $59.85 and a 200 day simple moving average of $64.14. 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 issued its earnings results 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. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business posted $1.03 EPS. The company's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other Hologic news, Director Martin D. Madaus bought 5,445 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the acquisition, the director now owns 5,445 shares of the company's stock, valued at $300,781.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.88% of the company's stock.

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.