Redwood Wealth Management Group LLC Acquires Shares of 804,915 Hologic, Inc. (NASDAQ:HOLX)

Redwood Wealth Management Group LLC purchased a new position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 804,915 shares of the medical equipment provider's stock, valued at approximately $3,534,000. Hologic accounts for approximately 1.8% of Redwood Wealth Management Group LLC's holdings, making the stock its 9th biggest position. Redwood Wealth Management Group LLC owned about 0.36% of Hologic at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Hologic during the 4th quarter worth approximately $133,414,000. Boston Partners boosted its stake in Hologic by 81.0% during 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 during the last quarter. Champlain Investment Partners LLC bought a new position in Hologic during the 4th quarter worth approximately $79,291,000. Northern Trust Corp boosted its stake in 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 acquiring an additional 668,086 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Hologic by 16.4% during the 4th quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock worth $293,434,000 after acquiring an additional 572,187 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HOLX. Stephens cut their price target on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Citigroup cut their price target on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $71.00 price target (down previously from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Hologic currently has a consensus rating of "Hold" and a consensus target price of $77.42.

Insider Buying and Selling

In other news, Director Martin D. Madaus bought 5,445 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the acquisition, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by corporate insiders.

Hologic Stock Up 0.8%

Shares of HOLX stock traded up $0.51 during trading on Friday, reaching $64.48. The company's stock had a trading volume of 5,564,249 shares, compared to its average volume of 2,349,728. The business has a fifty day moving average price of $59.29 and a 200-day moving average price of $64.37. The company has a quick ratio of 2.52, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The company has a market cap of $14.37 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.36 and a beta of 0.55. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67.

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

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.