The Manufacturers Life Insurance Company Trims Position in Hologic, Inc. (NASDAQ:HOLX)

The Manufacturers Life Insurance Company lowered its position in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,386,602 shares of the medical equipment provider's stock after selling 167,430 shares during the period. The Manufacturers Life Insurance Company owned about 1.06% of Hologic worth $172,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew 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 purchasing an additional 144,838 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Hologic by 0.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider's stock worth $354,506,000 after purchasing an additional 24,358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Hologic by 3.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider's stock worth $322,272,000 after buying an additional 129,035 shares during the period. Invesco Ltd. grew its stake 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 buying an additional 572,187 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Hologic by 81.0% in the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock valued at $257,959,000 after buying an additional 1,602,463 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Hologic Stock Performance

NASDAQ HOLX traded down $3.12 on Friday, reaching $54.16. The stock had a trading volume of 7,843,345 shares, compared to its average volume of 2,005,883. Hologic, Inc. has a 1-year low of $52.14 and a 1-year high of $84.67. 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 company has a market cap of $12.15 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.14 and a beta of 0.54. The firm has a fifty day moving average of $60.50 and a two-hundred day moving average of $69.45.

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

Analyst Upgrades and Downgrades

HOLX has been the topic of several research reports. Stephens reissued an "overweight" rating and set a $84.00 price target on shares of Hologic in a research report on Thursday, February 6th. Evercore ISI reduced their price objective 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. William Blair reissued an "outperform" rating on shares of Hologic in a report on Thursday, February 6th. Citigroup reduced their target price on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Leerink Partnrs downgraded Hologic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.15.

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.