Forsta AP Fonden Reduces Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Forsta AP Fonden decreased its position in Hologic, Inc. (NASDAQ:HOLX) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,300 shares of the medical equipment provider’s stock after selling 8,500 shares during the quarter. Forsta AP Fonden’s holdings in Hologic were worth $3,289,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Hologic during the 4th quarter valued at approximately $217,529,000. Cetera Investment Advisers lifted its stake in Hologic by 188.9% in the first quarter. Cetera Investment Advisers now owns 20,464 shares of the medical equipment provider’s stock worth $1,595,000 after acquiring an additional 13,380 shares during the period. Nordea Investment Management AB boosted its holdings in Hologic by 1.3% in the first quarter. Nordea Investment Management AB now owns 1,507,743 shares of the medical equipment provider’s stock valued at $116,797,000 after acquiring an additional 19,680 shares in the last quarter. Pinebridge Investments L.P. increased its position in Hologic by 39.8% during the 4th quarter. Pinebridge Investments L.P. now owns 397,251 shares of the medical equipment provider’s stock valued at $28,384,000 after purchasing an additional 113,050 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Hologic by 51.4% in the 1st quarter. Clearbridge Investments LLC now owns 518,596 shares of the medical equipment provider’s stock worth $40,430,000 after purchasing an additional 176,006 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Stock Performance

Shares of HOLX stock opened at $81.15 on Monday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic, Inc. has a one year low of $64.02 and a one year high of $84.67. The company’s 50-day moving average is $80.20 and its 200 day moving average is $76.86.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

Insider Transactions at Hologic

In related news, insider Brandon Schnittker sold 476 shares of the 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 directly owns 3,735 shares of the company’s stock, valued at $310,415.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hologic news, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the transaction, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The disclosure for this sale can be found here. Insiders sold 18,280 shares of company stock worth $1,469,973 over the last quarter. 1.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HOLX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $82.00 target price on shares of Hologic in a research report on Friday, August 16th. Stephens restated an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Hologic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hologic has an average rating of “Moderate Buy” and a consensus price target of $87.60.

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.