Riverwater Partners LLC Trims Position in Hologic, Inc. (NASDAQ:HOLX)

Riverwater Partners LLC lowered its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,582 shares of the medical equipment provider’s stock after selling 129 shares during the quarter. Riverwater Partners LLC’s holdings in Hologic were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HOLX. Wolff Wiese Magana LLC acquired a new stake in Hologic during the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Hologic during the second quarter worth $25,000. iA Global Asset Management Inc. acquired a new stake in shares of Hologic during the first quarter worth $37,000. Sunbelt Securities Inc. purchased a new position in Hologic in the 2nd quarter valued at $37,000. Finally, Cranbrook Wealth Management LLC acquired a new position in Hologic in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Performance

NASDAQ:HOLX opened at $81.35 on Thursday. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $18.99 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 2.89 and a beta of 0.98. The firm has a 50-day moving average price of $80.93 and a two-hundred day moving average price of $77.82. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $84.67.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.53% and a net margin of 17.59%. The company’s quarterly 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 EPS. As a group, research analysts expect that Hologic, Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup downgraded shares of Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Stephens reissued an “overweight” rating and issued a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. Finally, Evercore ISI lifted their price target on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic presently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Insider Activity at Hologic

In related news, insider Benjamin Jordan Cohn sold 5,093 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction 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 sale, the insider now owns 3,735 shares in the company, valued at $310,415.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin Jordan Cohn sold 5,093 shares of Hologic stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the sale, the insider now directly owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

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.