Equitable Trust Co. Buys New Shares in Hologic, Inc. (NASDAQ:HOLX)

Equitable Trust Co. purchased a new position in Hologic, Inc. (NASDAQ:HOLX) during the third quarter, HoldingsChannel reports. The institutional investor purchased 3,099 shares of the medical equipment provider’s stock, valued at approximately $252,000.

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

Hologic Stock Down 0.7 %

Shares of Hologic stock opened at $78.76 on Monday. Hologic, Inc. has a 1-year low of $66.93 and a 1-year high of $84.67. The company has a market capitalization of $18.29 billion, a P/E ratio of 23.65, a PEG ratio of 2.48 and a beta of 0.98. The business’s fifty day moving average price is $80.97 and its two-hundred day moving average price is $78.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.32.

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, hitting the consensus estimate of $1.01. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, research analysts forecast that Hologic, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HOLX shares. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Hologic in a report on Tuesday, October 15th. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $85.00 in a report on Tuesday, October 1st. Royal Bank of Canada increased their target price on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Mizuho decreased their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.25.

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.