Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Hologic, Inc. (NASDAQ:HOLX)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Hologic, Inc. (NASDAQ:HOLX) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 28,847 shares of the medical equipment provider’s stock, valued at approximately $2,350,000.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Hologic in the second quarter worth $25,000. Wolff Wiese Magana LLC purchased a new stake in Hologic during the 3rd quarter worth about $25,000. iA Global Asset Management Inc. acquired a new stake in Hologic in the 1st quarter valued at about $37,000. Sunbelt Securities Inc. purchased a new position in shares of Hologic in the 2nd quarter valued at about $37,000. Finally, Cromwell Holdings LLC grew its position in shares of Hologic by 330.2% during the third quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HOLX shares. Leerink Partners reduced their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Stephens restated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price objective on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Hologic in a research report on Tuesday, October 15th. Finally, Mizuho dropped their price objective on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Hologic has an average rating of “Moderate Buy” and an average target price of $89.91.

Hologic Trading Up 1.0 %

NASDAQ:HOLX opened at $79.73 on Tuesday. Hologic, Inc. has a 12-month low of $67.59 and a 12-month high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $80.38 and its 200-day simple moving average is $78.38. The firm has a market cap of $18.52 billion, a P/E ratio of 23.94, a PEG ratio of 2.49 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $987.90 million for 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. Equities analysts anticipate that Hologic, Inc. will post 4.27 EPS for the current year.

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.