Sound Shore Management Inc. CT Acquires 413,403 Shares of Hologic, Inc. (NASDAQ:HOLX)

Sound Shore Management Inc. CT raised its stake in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 42.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,383,628 shares of the medical equipment provider's stock after purchasing an additional 413,403 shares during the period. Hologic accounts for 3.0% of Sound Shore Management Inc. CT's portfolio, making the stock its 15th largest holding. Sound Shore Management Inc. CT owned 0.62% of Hologic worth $85,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Hologic by 34.4% in the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after acquiring an additional 1,692,177 shares during the period. Geode Capital Management LLC boosted its position in shares of Hologic by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider's stock valued at $412,159,000 after acquiring an additional 144,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Hologic by 3.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider's stock valued at $322,272,000 after acquiring an additional 129,035 shares during the period. Invesco Ltd. boosted its position in shares of Hologic by 16.4% in the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock valued at $293,434,000 after acquiring an additional 572,187 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Hologic by 26.9% in the fourth quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider's stock valued at $226,898,000 after acquiring an additional 668,086 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Price Performance

Shares of Hologic stock traded up $0.40 during trading on Friday, reaching $66.50. The company's stock had a trading volume of 1,116,538 shares, compared to its average volume of 1,795,352. The stock has a 50-day moving average price of $63.33 and a two-hundred day moving average price of $62.93. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67. The stock has a market capitalization of $14.82 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.55.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on HOLX. Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Citigroup raised Hologic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $60.00 to $80.00 in a research report on Wednesday, July 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $71.00 target price (down from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Stephens reduced their target price on Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada reduced their target price on Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $77.33.

Insider Activity at Hologic

In related news, Director Martin D. Madaus purchased 5,445 shares of the stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $55.24 per share, with a total value of $300,781.80. Following the purchase, the director directly owned 5,445 shares in the company, valued at $300,781.80. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.88% of the stock is currently owned by company insiders.

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.