Hologic, Inc. (NASDAQ:HOLX) Position Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 10.9% in the second quarter, HoldingsChannel.com reports. The firm owned 527,780 shares of the medical equipment provider’s stock after selling 64,543 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Hologic were worth $39,188,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HOLX. iA Global Asset Management Inc. bought a new position in Hologic during the first quarter valued at about $37,000. Mather Group LLC. bought a new position in shares of Hologic during the 1st quarter valued at about $48,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 137 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Hologic by 81.1% in the 1st quarter. Toth Financial Advisory Corp now owns 775 shares of the medical equipment provider’s stock worth $60,000 after purchasing an additional 347 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Hologic during the first quarter valued at approximately $63,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of Hologic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 10th. Stephens reiterated an “overweight” rating and set a $92.00 price target on shares of Hologic in a report on Tuesday, July 30th. Finally, Evercore ISI increased their price objective on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.60.

Hologic Price Performance

Shares of HOLX opened at $81.48 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.29 and a current ratio of 3.99. The firm has a market cap of $19.02 billion, a PE ratio of 41.57, a PEG ratio of 2.64 and a beta of 0.99. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $84.67. The firm’s 50 day moving average price is $76.96 and its 200 day moving average price is $75.90.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.53%. Hologic’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. As a group, research analysts expect that Hologic, Inc. will post 4.08 EPS for the current fiscal year.

Insider Activity

In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,280 shares of company stock valued at $1,469,973. 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.