State of Michigan Retirement System Sells 400 Shares of Hologic, Inc. (NASDAQ:HOLX)

State of Michigan Retirement System reduced its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,865 shares of the medical equipment provider’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Hologic were worth $4,742,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in shares of Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 137 shares in the last quarter. Graypoint LLC increased its stake in Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Hologic by 2.3% during the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after purchasing an additional 165 shares in the last quarter. Lincoln National Corp lifted its stake in Hologic by 4.0% during the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 178 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Hologic by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock valued at $131,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Hologic Trading Up 0.2 %

Shares of NASDAQ:HOLX traded up $0.16 during mid-day trading on Tuesday, hitting $79.91. The company had a trading volume of 42,642 shares, compared to its average volume of 1,634,107. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.29. Hologic, Inc. has a one year low of $64.02 and a one year high of $84.67. The firm has a fifty day moving average price of $77.92 and a 200 day moving average price of $76.20. The company has a market capitalization of $18.65 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 2.64 and a beta of 0.99.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. As a group, research analysts forecast that Hologic, Inc. will post 4.08 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 price target on shares of Hologic in a report on Friday, August 16th. Evercore ISI increased their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a report on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Finally, Argus raised their target price on shares of Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Buying and Selling

In other news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares of the company’s stock, valued at $310,415.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.99, for a total transaction of $417,575.07. Following the completion of the transaction, the insider now directly owns 10,476 shares in the company, valued at approximately $858,927.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,280 shares of company stock valued at $1,469,973. 1.75% of the stock is owned by company insiders.

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.