Parnassus Investments LLC Sells 105,080 Shares of Hologic, Inc. (NASDAQ:HOLX)

Parnassus Investments LLC lowered its position in shares of Hologic, Inc. (NASDAQ:HOLX - Free Report) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168,749 shares of the medical equipment provider's stock after selling 105,080 shares during the quarter. Parnassus Investments LLC owned 0.50% of Hologic worth $95,206,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Hologic during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC purchased a new stake in shares of Hologic during the third quarter worth about $25,000. iA Global Asset Management Inc. bought a new stake in Hologic during the 1st quarter valued at approximately $37,000. Sunbelt Securities Inc. purchased a new position in Hologic in the 2nd quarter worth approximately $37,000. Finally, Cromwell Holdings LLC boosted its stake in Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider's stock worth $44,000 after purchasing an additional 416 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Hologic Stock Down 0.3 %

Shares of HOLX stock traded down $0.22 during mid-day trading on Tuesday, hitting $78.57. The stock had a trading volume of 1,559,897 shares, compared to its average volume of 1,591,291. The firm has a market capitalization of $18.25 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. Hologic, Inc. has a 12-month low of $67.59 and a 12-month high of $84.67. The firm's 50-day moving average is $80.63 and its two-hundred day moving average is $78.28.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The company had revenue of $987.90 million for the quarter, compared to analysts' expectations of $978.25 million. During the same period in the prior year, the business earned $0.89 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Hologic, Inc. will post 4.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James boosted 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. Royal Bank of Canada boosted their price objective on Hologic from $86.00 to $89.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Hologic from $92.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded Hologic from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.91.

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.