Retirement Systems of Alabama Has $58.61 Million Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Retirement Systems of Alabama reduced its position in Hologic, Inc. (NASDAQ:HOLX) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 719,464 shares of the medical equipment provider’s stock after selling 63,634 shares during the quarter. Retirement Systems of Alabama’s holdings in Hologic were worth $58,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOLX. Oddo BHF Asset Management Sas bought a new stake in Hologic during the 3rd quarter valued at approximately $1,110,000. Franklin Resources Inc. lifted its holdings in shares of Hologic by 171.7% during the third quarter. Franklin Resources Inc. now owns 278,295 shares of the medical equipment provider’s stock worth $22,714,000 after buying an additional 175,855 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Hologic by 60.1% in the third quarter. Tidal Investments LLC now owns 15,351 shares of the medical equipment provider’s stock valued at $1,250,000 after acquiring an additional 5,764 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Hologic in the third quarter worth $93,000. Finally, Sanctuary Advisors LLC increased its position in Hologic by 4.2% during the third quarter. Sanctuary Advisors LLC now owns 16,613 shares of the medical equipment provider’s stock worth $1,312,000 after acquiring an additional 667 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Hologic in a report on Tuesday. They issued a “hold” rating and a $85.00 price target for the company. Wolfe Research began coverage on shares of Hologic in a research note on Friday. They issued a “peer perform” rating for the company. Raymond James boosted their price target on Hologic from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Activity

In related news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. The trade was a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.75% of the stock is currently owned by corporate insiders.

Hologic Price Performance

Shares of Hologic stock traded down $0.64 during mid-day trading on Friday, reaching $74.45. 64,280 shares of the stock were exchanged, compared to its average volume of 1,616,276. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Hologic, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $84.67. 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 firm has a 50-day simple moving average of $79.45 and a 200 day simple moving average of $78.56.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The business had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same period in the prior year, the company earned $0.89 EPS. Hologic’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that Hologic, Inc. will post 4.28 EPS 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.