CCM Investment Group LLC Makes New $793,000 Investment in Hologic, Inc. (NASDAQ:HOLX)

CCM Investment Group LLC purchased a new position in shares of Hologic, Inc. (NASDAQ:HOLX) in the first quarter, HoldingsChannel reports. The fund purchased 12,936 shares of the medical equipment provider’s stock, valued at approximately $793,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Hologic during the 1st quarter worth about $30,317,000. Aigen Investment Management LP acquired a new stake in Hologic during the 1st quarter worth about $2,141,000. Entropy Technologies LP lifted its position in Hologic by 287.4% during the 1st quarter. Entropy Technologies LP now owns 32,543 shares of the medical equipment provider’s stock worth $2,010,000 after acquiring an additional 24,143 shares during the period. Invesco Ltd. lifted its holdings in shares of Hologic by 18.8% in the 1st quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider’s stock valued at $298,655,000 after buying an additional 764,573 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Hologic by 79.2% in the 1st quarter. Covestor Ltd now owns 1,851 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 818 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Price Performance

NASDAQ:HOLX opened at $68.06 on Monday. Hologic, Inc. has a 12 month low of $51.90 and a 12 month high of $84.67. The stock has a 50 day moving average of $65.09 and a two-hundred day moving average of $62.63. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52. The firm has a market cap of $15.14 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. On average, analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HOLX shares. Royal Bank Of Canada raised Hologic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $72.00 to $87.00 in a report on Wednesday, August 6th. Mizuho set a $75.00 price objective on Hologic in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $71.00 price objective (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Stephens decreased their price objective on Hologic from $77.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley boosted their price objective on Hologic from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.83.

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.