US Bancorp DE Reduces Position in Hologic, Inc. (NASDAQ:HOLX)

Key Points

• US Bancorp DE has decreased its stake in Hologic, Inc. by 21.0%, selling 6,039 shares, and now holds 22,673 shares valued at $1.4 million.
• Several institutional investors have increased their positions in Hologic, including Victory Capital Management, which raised its holdings by 34.4%, acquiring an additional 1,692,177 shares.
• Hologic reported $1.08 earnings per share, exceeding analyst expectations of $1.05, and has a current average price target of $77.83 from analysts.

US Bancorp DE decreased its holdings in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,673 shares of the medical equipment provider's stock after selling 6,039 shares during the quarter. US Bancorp DE's holdings in Hologic were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HOLX. Federated Hermes Inc. raised its stake in Hologic by 35.8% during the fourth quarter. Federated Hermes Inc. now owns 7,720 shares of the medical equipment provider's stock valued at $557,000 after purchasing an additional 2,036 shares in the last quarter. Invesco Ltd. raised its stake in Hologic by 16.4% during the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock valued at $293,434,000 after purchasing an additional 572,187 shares in the last quarter. Bank of Nova Scotia raised its stake in Hologic by 227.8% during the fourth quarter. Bank of Nova Scotia now owns 97,612 shares of the medical equipment provider's stock valued at $7,037,000 after purchasing an additional 67,832 shares in the last quarter. APG Asset Management N.V. raised its stake in Hologic by 230.6% during the fourth quarter. APG Asset Management N.V. now owns 192,506 shares of the medical equipment provider's stock valued at $13,402,000 after purchasing an additional 134,280 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Hologic during the fourth quarter valued at $27,007,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Hologic in a research note on Tuesday, May 27th. UBS Group boosted their price objective on shares of Hologic from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upgraded shares of Hologic from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $72.00 to $87.00 in a research report on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating and set a $71.00 price objective (down previously from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Finally, Morgan Stanley boosted their price objective on shares of Hologic from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.83.

Hologic Stock Down 0.1%

Shares of HOLX stock traded down $0.04 during mid-day trading on Tuesday, hitting $67.95. 1,089,417 shares of the stock traded hands, compared to its average volume of 2,814,236. The stock has a market cap of $15.11 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.47 and a beta of 0.49. The stock's fifty day moving average is $65.21 and its two-hundred day moving average is $62.61. Hologic, Inc. has a 52-week low of $51.90 and a 52-week high of $84.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. Equities analysts predict that Hologic, Inc. will post 4.28 EPS 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.