Prospector Partners LLC Sells 105,871 Shares of Hologic, Inc. $HOLX

Key Points

• Prospector Partners LLC has reduced its holdings in Hologic, Inc. by 66% during the first quarter, selling 105,871 shares, which leaves them with 54,620 shares valued at approximately $3.37 million.
• Hologic's recent quarterly earnings showed EPS of $1.08, beating expectations, with revenues also surpassing estimates at $1.02 billion, reflecting a 1.2% year-over-year increase.
• Analysts have mixed ratings on Hologic, with a recent downgrade from Wall Street Zen from "buy" to "hold," while the average price target across analysts stands at $77.83.

Prospector Partners LLC lessened its holdings in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 66.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,620 shares of the medical equipment provider's stock after selling 105,871 shares during the quarter. Prospector Partners LLC's holdings in Hologic were worth $3,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Beverly Hills Private Wealth LLC grew its stake in shares of Hologic by 3.6% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,173 shares of the medical equipment provider's stock worth $320,000 after acquiring an additional 180 shares in the last quarter. Allworth Financial LP grew its stake in shares of Hologic by 46.0% in the 1st quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock worth $40,000 after acquiring an additional 216 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of Hologic by 7.9% in the 4th quarter. Dark Forest Capital Management LP now owns 3,053 shares of the medical equipment provider's stock worth $220,000 after acquiring an additional 223 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Hologic by 0.5% in the 4th quarter. Baker Avenue Asset Management LP now owns 42,051 shares of the medical equipment provider's stock worth $3,031,000 after acquiring an additional 225 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its stake in shares of Hologic by 5.4% in the 1st quarter. Integrated Advisors Network LLC now owns 5,603 shares of the medical equipment provider's stock worth $346,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reduced their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Evercore ISI boosted their price target on shares of Hologic from $62.00 to $68.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of Hologic from $65.00 to $69.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Mizuho set a $75.00 price target on shares of Hologic in a report on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.83.

Hologic Price Performance

NASDAQ HOLX opened at $67.81 on Monday. The company has a market cap of $15.08 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. 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. The firm's 50-day simple moving average is $65.60 and its two-hundred day simple moving average is $62.50.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The company's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Research analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

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.

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