Apollon Wealth Management LLC Sells 2,268 Shares of Hologic, Inc. (NASDAQ:HOLX)

Apollon Wealth Management LLC lessened its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 42.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,126 shares of the medical equipment provider’s stock after selling 2,268 shares during the period. Apollon Wealth Management LLC’s holdings in Hologic were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Hologic by 77.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after purchasing an additional 2,753,016 shares in the last quarter. Swedbank AB acquired a new position in shares of Hologic during the 1st quarter worth $120,827,000. Black Creek Investment Management Inc. lifted its holdings in shares of Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after acquiring an additional 885,524 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Hologic by 1,023.3% in the 2nd quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Hologic in the 2nd quarter valued at approximately $39,427,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Hologic Stock Performance

NASDAQ:HOLX opened at $78.79 on Tuesday. The firm has a market capitalization of $18.30 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.48 and a beta of 0.98. Hologic, Inc. has a twelve month low of $67.59 and a twelve month high of $84.67. The company has a fifty day moving average of $80.63 and a 200-day moving average of $78.28. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hologic, Inc. will post 4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Mizuho decreased their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Hologic in a report on Tuesday, July 30th. Leerink Partners dropped their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lifted their target price on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.