Forum Financial Management LP Purchases New Stake in Hologic, Inc. (NASDAQ:HOLX)

Forum Financial Management LP purchased 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 Securities & Exchange Commission. The institutional investor purchased 4,488 shares of the medical equipment provider's stock, valued at approximately $324,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Hologic during the fourth quarter valued at $133,414,000. Boston Partners boosted its position in shares of Hologic by 81.0% during the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock valued at $257,959,000 after purchasing an additional 1,602,463 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Hologic during the fourth quarter worth approximately $79,291,000. Invesco Ltd. grew its stake in Hologic by 16.4% during the fourth quarter. Invesco Ltd. now owns 4,070,384 shares of the medical equipment provider's stock worth $293,434,000 after purchasing an additional 572,187 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Hologic by 32.7% in the fourth quarter. Nordea Investment Management AB now owns 2,213,607 shares of the medical equipment provider's stock worth $159,911,000 after purchasing an additional 544,889 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Hologic Stock Down 0.5 %

Shares of NASDAQ HOLX traded down $0.27 during trading on Friday, hitting $58.02. The stock had a trading volume of 1,814,347 shares, compared to its average volume of 1,963,150. The firm has a fifty day moving average of $61.14 and a two-hundred day moving average of $70.22. The company has a market capitalization of $13.02 billion, a PE ratio of 18.30, a PEG ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.49 and a quick ratio of 2.78. Hologic, Inc. has a 12 month low of $55.89 and a 12 month high of $84.67.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on HOLX shares. Morgan Stanley reduced their price objective on shares of Hologic from $84.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Leerink Partners downgraded shares of Hologic from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Needham & Company LLC cut shares of Hologic from a "buy" rating to a "hold" rating and set a $90.00 price objective on the stock. in a research report on Monday, February 3rd. Citigroup decreased their target price on Hologic from $80.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada cut their price target on Hologic from $88.00 to $85.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $84.62.

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.