Hologic, Inc. (NASDAQ:HOLX) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in Hologic, Inc. (NASDAQ:HOLX) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,933 shares of the medical equipment provider’s stock after selling 843 shares during the quarter. Summit Global Investments’ holdings in Hologic were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in shares of Hologic by 4.5% in the 3rd quarter. Nordea Investment Management AB now owns 1,616,999 shares of the medical equipment provider’s stock worth $113,077,000 after acquiring an additional 69,494 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Hologic during the fourth quarter worth about $1,057,000. Pathstone Family Office LLC raised its stake in Hologic by 96.0% during the third quarter. Pathstone Family Office LLC now owns 9,272 shares of the medical equipment provider’s stock worth $643,000 after purchasing an additional 4,542 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Hologic by 186.7% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 38,404 shares of the medical equipment provider’s stock valued at $2,665,000 after purchasing an additional 25,010 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Hologic by 145.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 790 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 468 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HOLX. Raymond James lifted their price target on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Finally, UBS Group lifted their price target on shares of Hologic from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hologic presently has an average rating of “Moderate Buy” and an average price target of $84.56.

Insider Buying and Selling

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total value of $1,241,295.50. Following the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.

Hologic Stock Performance

Shares of HOLX opened at $76.54 on Monday. Hologic, Inc. has a 1 year low of $64.02 and a 1 year high of $86.74. The stock has a market capitalization of $17.97 billion, a PE ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. The stock has a 50-day simple moving average of $76.13 and a 200-day simple moving average of $73.09.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Hologic, Inc. will post 4.08 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.