King Wealth Management Group Has $1.97 Million Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

King Wealth Management Group increased its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 115.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,850 shares of the medical equipment provider’s stock after buying an additional 17,100 shares during the period. King Wealth Management Group’s holdings in Hologic were worth $1,967,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Davis R M Inc. lifted its position in shares of Hologic by 56.2% in the 1st quarter. Davis R M Inc. now owns 5,695 shares of the medical equipment provider’s stock worth $352,000 after purchasing an additional 2,050 shares during the period. North Star Asset Management Inc. lifted its position in shares of Hologic by 0.7% in the 1st quarter. North Star Asset Management Inc. now owns 254,508 shares of the medical equipment provider’s stock worth $15,721,000 after purchasing an additional 1,651 shares during the period. XTX Topco Ltd acquired a new position in shares of Hologic in the 1st quarter worth approximately $804,000. Banque Cantonale Vaudoise acquired a new position in shares of Hologic in the 1st quarter worth approximately $892,000. Finally, Federated Hermes Inc. lifted its position in shares of Hologic by 5.5% in the 1st quarter. Federated Hermes Inc. now owns 8,148 shares of the medical equipment provider’s stock worth $503,000 after purchasing an additional 428 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOLX. Mizuho boosted their price target on shares of Hologic from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Stephens dropped their price target on shares of Hologic from $77.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial restated an “outperform” rating and issued a $71.00 price target (down previously from $90.00) on shares of Hologic in a research report on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Hologic in a research report on Tuesday, May 27th. Finally, Royal Bank Of Canada dropped their target price on shares of Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.33.

Hologic Stock Performance

NASDAQ HOLX opened at $64.98 on Thursday. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 2.52. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.42 and a beta of 0.55. The company has a fifty day moving average price of $63.91 and a 200-day moving average price of $62.86.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Martin D. Madaus bought 5,445 shares of Hologic stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the purchase, the director directly owned 5,445 shares in the company, valued at $300,781.80. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is currently owned by insiders.

Hologic Company 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.