Hologic, Inc. (NASDAQ:HOLX) Shares Acquired by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lifted its holdings in Hologic, Inc. (NASDAQ:HOLX) by 5.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,115 shares of the medical equipment provider’s stock after purchasing an additional 57,588 shares during the quarter. Hologic comprises about 2.9% of Sound Shore Management Inc. CT’s portfolio, making the stock its 12th biggest position. Sound Shore Management Inc. CT owned approximately 0.50% of Hologic worth $86,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in Hologic during the 2nd quarter valued at approximately $25,000. iA Global Asset Management Inc. acquired a new position in shares of Hologic in the 1st quarter valued at $37,000. Cranbrook Wealth Management LLC purchased a new position in Hologic in the 2nd quarter worth $47,000. Mather Group LLC. purchased a new position in Hologic in the 1st quarter worth $48,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Hologic by 24.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after acquiring an additional 137 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $310,415.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,280 shares of company stock worth $1,469,973. 1.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HOLX shares. Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. StockNews.com lowered shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $82.00 price objective on shares of Hologic in a research note on Friday, August 16th. Finally, Evercore ISI upped their price target on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic presently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

Hologic Stock Performance

Shares of NASDAQ:HOLX opened at $81.39 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic, Inc. has a 1 year low of $64.02 and a 1 year high of $84.67. The firm has a market capitalization of $18.99 billion, a PE ratio of 41.53, a P/E/G ratio of 2.53 and a beta of 0.98. The business’s 50 day moving average price is $80.74 and its 200-day moving average price is $77.05.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the company earned $0.93 EPS. Hologic’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Hologic, Inc. will post 4.09 earnings per share for the current fiscal year.

Hologic 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.