Praxis Investment Management Inc. Invests $240,000 in Hologic, Inc. (NASDAQ:HOLX)

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

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

Hologic Price Performance

Shares of NASDAQ:HOLX traded down $0.56 during trading on Wednesday, reaching $64.27. The stock had a trading volume of 2,015,098 shares, compared to its average volume of 2,362,156. The stock has a market capitalization of $14.32 billion, a PE ratio of 27.12, a P/E/G ratio of 2.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 2.52. Hologic, Inc. has a 52 week low of $51.90 and a 52 week high of $84.67. The business's 50-day moving average price is $59.70 and its 200 day moving average price is $64.21.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, equities analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HOLX shares. Raymond James Financial reissued an "outperform" rating and set a $71.00 price objective (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. 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 research report on Monday, May 5th. Argus downgraded shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Citigroup dropped their price objective on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Evercore ISI reduced their price objective on shares of Hologic from $65.00 to $62.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Hologic has a consensus rating of "Hold" and an average target price of $77.42.

Insiders Place Their Bets

In related news, Director Martin D. Madaus bought 5,445 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $55.24 per share, with a total value of $300,781.80. Following the completion of the purchase, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing 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.