Hologic, Inc. (NASDAQ:HOLX) Stake Lowered by SVB Wealth LLC

SVB Wealth LLC cut its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,227 shares of the medical equipment provider’s stock after selling 2,405 shares during the quarter. SVB Wealth LLC’s holdings in Hologic were worth $1,279,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in HOLX. International Assets Investment Management LLC bought a new position in shares of Hologic during the fourth quarter valued at approximately $950,000. Lincoln National Corp grew its holdings in shares of Hologic by 4.0% during the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 178 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Hologic by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,446,768 shares of the medical equipment provider’s stock valued at $103,372,000 after purchasing an additional 26,730 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Hologic during the fourth quarter valued at approximately $115,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Hologic by 144.4% during the fourth quarter. BNP Paribas Financial Markets now owns 309,632 shares of the medical equipment provider’s stock valued at $22,123,000 after purchasing an additional 182,925 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Brandon Schnittker sold 476 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandon Schnittker sold 476 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the sale, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the sale, the insider now owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,280 shares of company stock worth $1,469,973. Insiders own 1.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on HOLX. JPMorgan Chase & Co. upped their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Stephens reiterated an “overweight” rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a research report on Friday, August 16th. Finally, StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Hologic Stock Performance

HOLX opened at $81.57 on Monday. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. Hologic, Inc. has a 1-year low of $64.02 and a 1-year high of $84.67. The business has a 50 day moving average price of $79.45 and a two-hundred day moving average price of $76.65.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. Research analysts predict that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

About Hologic

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.