Investment Management Corp of Ontario Sells 8,774 Shares of Hologic, Inc. (NASDAQ:HOLX)

Investment Management Corp of Ontario lowered its stake in Hologic, Inc. (NASDAQ:HOLX - Free Report) by 53.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,700 shares of the medical equipment provider's stock after selling 8,774 shares during the quarter. Investment Management Corp of Ontario's holdings in Hologic were worth $627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HOLX. Wolff Wiese Magana LLC bought a new stake in shares of Hologic in the 3rd quarter valued at about $25,000. Innealta Capital LLC bought a new stake in Hologic during the 2nd quarter valued at $25,000. First Horizon Advisors Inc. raised its holdings in shares of Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider's stock worth $39,000 after acquiring an additional 134 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Hologic in the second quarter worth approximately $37,000. Finally, Cromwell Holdings LLC boosted its holdings in Hologic by 330.2% during the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider's stock worth $44,000 after acquiring an additional 416 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Insiders Place Their Bets

In other news, COO Essex D. Mitchell sold 24,856 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.75% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HOLX shares. Mizuho reduced their target price on Hologic from $90.00 to $87.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Raymond James upped their price target on shares of Hologic from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. UBS Group lifted their target price on Hologic from $84.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Hologic from $92.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their target price on shares of Hologic from $86.00 to $89.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.91.

Hologic Trading Down 0.9 %

Shares of NASDAQ:HOLX traded down $0.66 during trading on Friday, reaching $75.34. 1,356,780 shares of the company traded hands, compared to its average volume of 1,560,994. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. Hologic, Inc. has a 52-week low of $67.59 and a 52-week high of $84.67. The business's fifty day moving average is $79.81 and its 200-day moving average is $78.52. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 2.42 and a beta of 0.96.

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