Norges Bank Takes Position in Hologic, Inc. (NASDAQ:HOLX)

Norges Bank acquired a new stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,850,653 shares of the medical equipment provider's stock, valued at approximately $133,414,000. Norges Bank owned about 0.82% of Hologic at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caisse Des Depots ET Consignations bought a new position in shares of Hologic in the 4th quarter valued at about $1,473,000. NEOS Investment Management LLC increased its position in Hologic by 28.5% during the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the medical equipment provider's stock worth $806,000 after buying an additional 2,483 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Hologic by 22.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 30,428 shares of the medical equipment provider's stock valued at $2,194,000 after buying an additional 5,671 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Hologic by 13.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,545,473 shares of the medical equipment provider's stock valued at $111,413,000 after buying an additional 186,528 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Hologic by 25.1% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,888 shares of the medical equipment provider's stock worth $1,866,000 after acquiring an additional 5,197 shares during the period. 94.73% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HOLX. Stephens restated an "overweight" rating and issued a $84.00 price target on shares of Hologic in a research note on Thursday, February 6th. Raymond James restated an "outperform" rating and set a $90.00 target price (down previously from $95.00) on shares of Hologic in a research note on Thursday, February 6th. Leerink Partnrs downgraded shares of Hologic from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on Hologic in a research report on Tuesday, December 10th. They issued a "hold" rating and a $85.00 target price on the stock. Finally, Citigroup dropped their price target on Hologic from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hologic has a consensus rating of "Hold" and an average price target of $84.62.

Hologic Price Performance

Shares of HOLX traded up $1.13 during mid-day trading on Thursday, reaching $61.69. The company had a trading volume of 4,596,048 shares, compared to its average volume of 1,821,809. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The company's 50 day simple moving average is $64.69 and its 200 day simple moving average is $72.88. Hologic, Inc. has a 1-year low of $58.38 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. Analysts expect that Hologic, Inc. will post 4.28 EPS for the current year.

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.