HighPoint Advisor Group LLC Makes New $492,000 Investment in Hologic, Inc. (NASDAQ:HOLX)

HighPoint Advisor Group LLC bought a new position in shares of Hologic, Inc. (NASDAQ:HOLX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,507 shares of the medical equipment provider’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Hologic by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 5,055,048 shares of the medical equipment provider’s stock worth $361,183,000 after acquiring an additional 216,958 shares during the period. Norges Bank bought a new stake in shares of Hologic in the 4th quarter worth approximately $217,529,000. The Manufacturers Life Insurance Company boosted its position in shares of Hologic by 117.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock worth $154,598,000 after purchasing an additional 1,168,564 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Hologic by 2.8% in the 4th quarter. TD Asset Management Inc now owns 1,897,705 shares of the medical equipment provider’s stock worth $135,591,000 after purchasing an additional 52,243 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Hologic by 2.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,634,362 shares of the medical equipment provider’s stock worth $115,586,000 after purchasing an additional 45,785 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Price Performance

NASDAQ HOLX opened at $71.47 on Thursday. The business’s fifty day moving average price is $74.78 and its 200-day moving average price is $74.13. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 2.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29. Hologic, Inc. has a 1-year low of $64.02 and a 1-year high of $82.45.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. Hologic’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. On average, equities analysts predict that Hologic, Inc. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOLX. Evercore ISI boosted their price target on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, Argus upped their price objective on Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.60.

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.