R Squared Ltd Purchases Shares of 6,810 Hologic, Inc. (NASDAQ:HOLX)

Key Points

• R Squared Ltd has acquired a new position in Hologic, purchasing 6,810 shares valued at approximately $421,000 in Q1.
• Several institutional investors have also increased their stakes in Hologic, with ownership by hedge funds and institutions now at 94.73%.
• Research firm ratings for Hologic include a price target increase by Morgan Stanley from $65 to $69, with consensus ratings leaning towards a "Hold" status.

R Squared Ltd acquired a new stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,810 shares of the medical equipment provider's stock, valued at approximately $421,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider's stock worth $40,000 after purchasing an additional 216 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Hologic during the first quarter worth $42,000. Larson Financial Group LLC lifted its holdings in shares of Hologic by 6,016.7% during the first quarter. Larson Financial Group LLC now owns 734 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 722 shares during the period. Raiffeisen Bank International AG acquired a new position in Hologic in the fourth quarter valued at $49,000. Finally, West Financial Advisors LLC acquired a new position in Hologic in the first quarter valued at $50,000. 94.73% of the stock is owned by institutional investors.

Hologic Stock Down 0.1%

NASDAQ:HOLX traded down $0.09 on Tuesday, hitting $67.82. The stock had a trading volume of 1,100,244 shares, compared to its average volume of 2,859,630. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67. The firm's fifty day simple moving average is $64.69 and its two-hundred day simple moving average is $62.71. The stock has a market cap of $15.08 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.81 and a current ratio of 3.55.

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, topping the consensus estimate of $1.05 by $0.03. The company had revenue of $1.02 billion during 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%. Hologic's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Martin D. Madaus purchased 5,445 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $55.24 per share, with a total value of $300,781.80. Following the acquisition, the director directly owned 5,445 shares in the company, valued at approximately $300,781.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on HOLX. Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Mizuho set a $75.00 target price on shares of Hologic in a report on Thursday, July 31st. Stephens dropped their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on shares of Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, UBS Group upped their price objective on shares of Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $76.42.

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.