Eagle Ridge Investment Management Increases Position in Hologic, Inc. (NASDAQ:HOLX)

Eagle Ridge Investment Management lifted its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 3.1% in the first quarter, HoldingsChannel.com reports. The fund owned 189,420 shares of the medical equipment provider’s stock after acquiring an additional 5,673 shares during the period. Hologic makes up 1.4% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 27th largest position. Eagle Ridge Investment Management’s holdings in Hologic were worth $14,767,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Hologic during the 4th quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV increased its position in Hologic by 69.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 227 shares during the last quarter. Allworth Financial LP raised its stake in shares of Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 179 shares during the period. Mather Group LLC. bought a new stake in shares of Hologic in the first quarter valued at $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Hologic by 145.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 790 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 468 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOLX. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research note on Friday, May 3rd. Evercore ISI dropped their price target on shares of Hologic from $78.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Argus boosted their target price on shares of Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Citigroup raised Hologic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.55.

Hologic Price Performance

NASDAQ:HOLX traded down $0.57 during trading hours on Tuesday, hitting $73.53. 1,663,732 shares of the company’s stock traded hands, compared to its average volume of 1,637,241. The firm has a market cap of $17.16 billion, a P/E ratio of 37.60, a P/E/G ratio of 2.47 and a beta of 0.99. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $74.28 and its two-hundred day simple moving average is $74.35. Hologic, Inc. has a 52 week low of $64.02 and a 52 week high of $82.45.

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, beating analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. On average, research analysts anticipate that Hologic, Inc. will post 4.08 earnings per share for the current fiscal year.

Hologic Company 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.