Wedge Capital Management L L P NC Purchases 168,889 Shares of Hologic, Inc. (NASDAQ:HOLX)

Wedge Capital Management L L P NC increased its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 37.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 625,928 shares of the medical equipment provider's stock after acquiring an additional 168,889 shares during the period. Wedge Capital Management L L P NC owned about 0.28% of Hologic worth $38,664,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Hologic during the 4th quarter valued at about $133,414,000. Boston Partners boosted its holdings in shares of Hologic by 81.0% in the fourth quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock worth $257,959,000 after buying an additional 1,602,463 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Hologic in the fourth quarter worth approximately $79,291,000. Northern Trust Corp grew its position in Hologic by 26.9% during 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 buying an additional 668,086 shares during the period. Finally, Invesco Ltd. increased its holdings 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 buying an additional 572,187 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Buying and Selling

In other Hologic news, Director Martin D. Madaus bought 5,445 shares of the business's stock in a transaction that occurred 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 completion of the acquisition, the director now owns 5,445 shares in the company, valued at $300,781.80. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

HOLX has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Hologic in a research report on Tuesday, May 27th. Raymond James reissued an "outperform" rating and set a $71.00 price target (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Royal Bank of Canada reduced their price target 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. Citigroup lowered their price objective on Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, Argus lowered shares of Hologic from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Twelve investment 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, the company has a consensus rating of "Hold" and an average target price of $77.42.

Hologic Trading Up 2.0%

Hologic stock opened at $64.33 on Friday. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67. The firm's 50 day moving average price is $58.27 and its 200-day moving average price is $65.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. The stock has a market cap of $14.34 billion, a P/E ratio of 20.29, a PEG ratio of 2.14 and a beta of 0.55.

Hologic (NASDAQ:HOLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Hologic's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. On average, equities analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Hologic 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.

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