Oppenheimer Asset Management Inc. Trims Stake in Hologic, Inc. (NASDAQ:HOLX)

Oppenheimer Asset Management Inc. reduced its holdings in Hologic, Inc. (NASDAQ:HOLX) by 9.9% during the third quarter, Holdings Channel.com reports. The fund owned 34,608 shares of the medical equipment provider’s stock after selling 3,815 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hologic were worth $2,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC purchased a new stake in Hologic in the first quarter valued at approximately $234,000. Banco Santander S.A. purchased a new stake in shares of Hologic during the 1st quarter valued at $344,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Hologic by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 292,378 shares of the medical equipment provider’s stock worth $22,490,000 after acquiring an additional 1,136 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Hologic by 4.3% during the 1st quarter. Intech Investment Management LLC now owns 40,687 shares of the medical equipment provider’s stock worth $3,172,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Hologic by 11,074.7% in the first quarter. Acadian Asset Management LLC now owns 179,019 shares of the medical equipment provider’s stock worth $13,947,000 after acquiring an additional 177,417 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HOLX shares. JPMorgan Chase & Co. lifted their price target on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group increased their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Leerink Partners lowered their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Stephens reaffirmed an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hologic currently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

Hologic Stock Performance

Shares of NASDAQ:HOLX opened at $78.60 on Friday. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $80.71 and a 200-day moving average price of $78.25. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.98. Hologic, Inc. has a 12 month low of $67.59 and a 12 month high of $84.67.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Hologic’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, equities analysts anticipate that Hologic, Inc. will post 4.27 EPS for the current year.

About Hologic

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.