Wahed Invest LLC Grows Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Wahed Invest LLC boosted its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 8.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,551 shares of the medical equipment provider’s stock after buying an additional 424 shares during the quarter. Wahed Invest LLC’s holdings in Hologic were worth $452,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Hologic by 64.0% in the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after buying an additional 2,174,093 shares during the period. Black Creek Investment Management Inc. increased its stake in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after purchasing an additional 885,524 shares during the period. Mackenzie Financial Corp lifted its position in shares of Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after purchasing an additional 815,960 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Hologic during the second quarter valued at $39,427,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Hologic by 21.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after purchasing an additional 450,190 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Hologic Price Performance

HOLX opened at $75.34 on Friday. The firm has a market capitalization of $17.10 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The business’s 50-day moving average is $79.81 and its two-hundred day moving average is $78.52. Hologic, Inc. has a 1 year low of $67.59 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same period last year, the business earned $0.89 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares in the company, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Leerink Partners reduced their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Finally, Mizuho lowered their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

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.