Bank of Nova Scotia Raises Position in Hologic, Inc. (NASDAQ:HOLX)

Bank of Nova Scotia grew its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 227.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,612 shares of the medical equipment provider's stock after buying an additional 67,832 shares during the quarter. Bank of Nova Scotia's holdings in Hologic were worth $7,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOLX. Benson Investment Management Company Inc. purchased a new stake in Hologic during the 4th quarter valued at approximately $4,832,000. Principal Financial Group Inc. boosted its position in shares of Hologic by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider's stock valued at $19,547,000 after buying an additional 1,606 shares during the period. Clean Yield Group lifted its position in shares of Hologic by 18.9% during the fourth quarter. Clean Yield Group now owns 45,646 shares of the medical equipment provider's stock worth $3,291,000 after purchasing an additional 7,266 shares during the last quarter. Janus Henderson Group PLC increased its stake in Hologic by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 28,776 shares of the medical equipment provider's stock worth $2,344,000 after buying an additional 800 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Hologic by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,358,945 shares of the medical equipment provider's stock worth $110,700,000 after acquiring an additional 238,222 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Hologic Stock Performance

Shares of HOLX traded up $0.88 during mid-day trading on Thursday, reaching $57.38. The company had a trading volume of 1,006,561 shares, compared to its average volume of 1,925,806. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $61.87 and a two-hundred day moving average of $71.15. Hologic, Inc. has a 52-week low of $56.00 and a 52-week high of $84.67. The stock has a market capitalization of $12.88 billion, a P/E ratio of 18.10, a PEG ratio of 2.14 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Leerink Partnrs cut Hologic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada lowered their price objective on shares of Hologic from $88.00 to $85.00 and set a "sector perform" rating for the company in a research note on Thursday, February 6th. William Blair restated an "outperform" rating on shares of Hologic in a report on Thursday, February 6th. Citigroup cut their price objective on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Leerink Partners cut Hologic from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $80.00 to $75.00 in a research report on Thursday, February 6th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Hologic currently has a consensus rating of "Hold" and an average target price of $84.62.

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.