Procyon Advisors LLC Makes New $692,000 Investment in Hologic, Inc. (NASDAQ:HOLX)

Procyon Advisors LLC bought a new position in Hologic, Inc. (NASDAQ:HOLX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,208 shares of the medical equipment provider's stock, valued at approximately $692,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Hologic during the 4th quarter valued at about $133,414,000. Boston Partners raised its position in shares of Hologic by 81.0% in the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock worth $257,959,000 after acquiring an additional 1,602,463 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Hologic during the 4th quarter worth $79,291,000. Northern Trust Corp lifted its stake in shares of Hologic by 26.9% during the 4th quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock worth $226,898,000 after purchasing an additional 668,086 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Hologic by 16.4% during the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock valued at $293,434,000 after purchasing an additional 572,187 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Hologic Trading Up 2.0%

NASDAQ HOLX opened at $64.33 on Friday. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The company has a market capitalization of $14.34 billion, a PE ratio of 20.29, a P/E/G ratio of 2.14 and a beta of 0.55. The company has a fifty day moving average of $58.27 and a 200 day moving average of $65.35.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The company's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Research analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

HOLX has been the topic of a number of recent analyst reports. Raymond James restated an "outperform" rating and issued a $71.00 price target (down from $90.00) on shares of Hologic in a report on Friday, May 2nd. Citigroup decreased their price objective on Hologic from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Evercore ISI lowered their price objective on Hologic from $65.00 to $62.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, Stephens decreased their price objective on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $77.42.

Hologic Company 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.

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