Hologic, Inc. (NASDAQ:HOLX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,464 shares of the medical equipment provider's stock after selling 63,634 shares during the period. Retirement Systems of Alabama owned 0.32% of Hologic worth $58,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Innealta Capital LLC purchased a new position in Hologic during the second quarter valued at $25,000. Wolff Wiese Magana LLC bought a new position in shares of Hologic during the third quarter valued at $25,000. Groupama Asset Managment raised its position in shares of Hologic by 9.9% in the 3rd quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 2,999 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Hologic in the 2nd quarter worth about $37,000. Finally, First Horizon Advisors Inc. grew its position in Hologic by 38.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on HOLX. JPMorgan Chase & Co. lifted their target price on Hologic from $92.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. UBS Group lifted their price objective on Hologic from $84.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Mizuho lowered their target price on shares of Hologic from $90.00 to $87.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Raymond James lifted their price target on shares of Hologic from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Hologic from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.50.

Hologic Price Performance

Shares of Hologic stock traded down $1.44 during trading hours on Friday, reaching $73.65. The company's stock had a trading volume of 2,553,425 shares, compared to its average volume of 1,626,827. The firm has a 50 day moving average price of $79.32 and a 200-day moving average price of $78.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The stock has a market cap of $16.71 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.38 and a beta of 0.96. Hologic, Inc. has a one year low of $70.24 and a one year high of $84.67.

Hologic (NASDAQ:HOLX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. Hologic's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts predict that Hologic, Inc. will post 4.28 EPS for the current year.

Insider Transactions at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the sale, the chief operating officer now directly owns 27,957 shares of the company's stock, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.75% of the company's stock.

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.