Prudential PLC Trims Stock Position in Hologic, Inc. $HOLX

Key Points

• Prudential PLC has decreased its stake in Hologic, Inc. by 12.4%, selling 10,866 shares and holding 76,975 shares valued at approximately $4,755,000.
• Other institutional investors are adjusting their positions in Hologic, with notable increases including Nuance Investments LLC raising their stake by 623.7% this quarter.
• Hologic recently reported earnings of $1.08 per share, surpassing analysts' expectations, and shows a revenue increase of 1.2% year-over-year.

Prudential PLC lowered its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 12.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,975 shares of the medical equipment provider's stock after selling 10,866 shares during the period. Prudential PLC's holdings in Hologic were worth $4,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Hologic by 22.3% in the first quarter. Farther Finance Advisors LLC now owns 1,835 shares of the medical equipment provider's stock valued at $113,000 after purchasing an additional 335 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Hologic by 116.6% during the 1st quarter. SG Americas Securities LLC now owns 9,609 shares of the medical equipment provider's stock worth $594,000 after acquiring an additional 5,172 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of Hologic by 85.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 19,436 shares of the medical equipment provider's stock valued at $1,401,000 after acquiring an additional 8,960 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Hologic by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,056 shares of the medical equipment provider's stock valued at $1,980,000 after purchasing an additional 528 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Hologic by 4.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,945 shares of the medical equipment provider's stock worth $1,108,000 after purchasing an additional 767 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

HOLX has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Evercore ISI boosted their price target on shares of Hologic from $62.00 to $68.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Mizuho set a $75.00 price objective on shares of Hologic in a report on Thursday, July 31st. Royal Bank Of Canada upgraded shares of Hologic from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $72.00 to $87.00 in a report on Wednesday, August 6th. Finally, UBS Group upped their price target on Hologic from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Hologic Stock Down 0.2%

Shares of HOLX stock traded down $0.14 on Monday, reaching $67.67. 816,782 shares of the stock were exchanged, compared to its average volume of 2,798,039. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $84.39. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.46 and a beta of 0.49. The business's 50 day moving average price is $65.60 and its 200 day moving average price is $62.50.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. As a group, sell-side analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal 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.