Redwood Investment Management LLC Takes Position in Hologic, Inc. (NASDAQ:HOLX)

Redwood Investment Management LLC purchased a new position in Hologic, Inc. (NASDAQ:HOLX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,107 shares of the medical equipment provider's stock, valued at approximately $3,684,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in Hologic by 14.7% in the fourth quarter. Brooklyn Investment Group now owns 1,131 shares of the medical equipment provider's stock worth $82,000 after acquiring an additional 145 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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. Trivant Custom Portfolio Group LLC grew its position in Hologic by 2.1% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 8,348 shares of the medical equipment provider's stock valued at $602,000 after purchasing an additional 169 shares during the last quarter. UMB Bank n.a. increased its position in shares of Hologic by 4.1% during the fourth quarter. UMB Bank n.a. now owns 4,758 shares of the medical equipment provider's stock valued at $343,000 after acquiring an additional 188 shares in the last quarter. Finally, Capital Investment Counsel Inc raised its stake in shares of Hologic by 3.6% in the fourth quarter. Capital Investment Counsel Inc now owns 5,724 shares of the medical equipment provider's stock worth $413,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insiders Place Their Bets

In other Hologic news, Director Martin D. Madaus purchased 5,445 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $55.24 per share, with a total value of $300,781.80. Following the acquisition, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.88% of the company's stock.

Analyst Upgrades and Downgrades

HOLX has been the topic of a number of research reports. Leerink Partners downgraded Hologic from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $80.00 to $75.00 in a research note on Thursday, February 6th. Leerink Partnrs lowered shares of Hologic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Citigroup lowered their price objective on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Stephens cut their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, StockNews.com cut shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Hologic has a consensus rating of "Hold" and a consensus target price of $77.42.

Hologic Price Performance

Shares of NASDAQ:HOLX opened at $55.36 on Thursday. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The firm has a fifty day moving average price of $59.08 and a 200 day moving average price of $67.85. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.14 and a beta of 0.54.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a return on equity of 19.72% and a net margin of 18.42%. The company's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, sell-side analysts expect 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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