Principal Financial Group Inc. Grows Stock Position in Hologic, Inc. (NASDAQ:HOLX)

Principal Financial Group Inc. raised its holdings in Hologic, Inc. (NASDAQ:HOLX) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,546 shares of the medical equipment provider’s stock after buying an additional 9,419 shares during the quarter. Principal Financial Group Inc.’s holdings in Hologic were worth $21,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HOLX. State Street Corp boosted its position in shares of Hologic by 0.8% in the third quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock worth $847,944,000 after acquiring an additional 81,057 shares during the last quarter. FMR LLC boosted its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hologic by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock valued at $208,051,000 after buying an additional 18,774 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Hologic by 8.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider’s stock worth $200,952,000 after buying an additional 195,285 shares during the last quarter. Finally, Black Creek Investment Management Inc. raised its position in shares of Hologic by 60.9% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after buying an additional 885,524 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $72.68 on Thursday. 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, Inc. has a fifty-two week low of $70.36 and a fifty-two week high of $84.67. The business has a 50 day moving average price of $77.94 and a two-hundred day moving average price of $78.49. The firm has a market cap of $16.49 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates 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 business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Sell-side analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOLX has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Thursday, December 19th. UBS Group lifted their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Mizuho reduced their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Activity

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.75% of the company’s stock.

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.