Redwood Wealth Management Group LLC Makes New Investment in Hologic, Inc. (NASDAQ:HOLX)

Redwood Wealth Management Group LLC acquired a new position in Hologic, Inc. (NASDAQ:HOLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 804,915 shares of the medical equipment provider's stock, valued at approximately $3,534,000. Hologic makes up 1.8% of Redwood Wealth Management Group LLC's investment portfolio, 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 have also added to or reduced their stakes in HOLX. Venturi Wealth Management LLC raised its holdings in Hologic by 156.3% in the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider's stock worth $31,000 after purchasing an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Hologic by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 260 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Hologic by 36.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider's stock worth $43,000 after purchasing an additional 159 shares in the last quarter. Smithfield Trust Co raised its holdings in Hologic by 160.0% in the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 400 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Hologic in the 4th quarter worth $49,000. 94.73% of the stock is currently owned by institutional investors.

Hologic Stock Performance

Shares of HOLX stock traded up $0.51 during trading hours on Friday, reaching $64.48. The company had a trading volume of 5,564,249 shares, compared to its average volume of 2,348,525. The business has a fifty day moving average price of $59.29 and a 200-day moving average price of $64.45. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67. The firm has a market cap of $14.37 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results 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. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In related news, Director Martin D. Madaus purchased 5,445 shares of Hologic stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the purchase, the director now directly owns 5,445 shares of the company's stock, valued at $300,781.80. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. 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 reiterated a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. Raymond James Financial reiterated an "outperform" rating and issued a $71.00 price target (down from $90.00) on shares of Hologic in a research note on Friday, May 2nd. Stephens decreased their price target 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. Finally, Evercore ISI decreased their price target on shares of Hologic from $65.00 to $62.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $77.42.

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.