MQS Management LLC Takes Position in Hologic, Inc. (NASDAQ:HOLX)

MQS Management LLC purchased a new position in shares of Hologic, Inc. (NASDAQ:HOLX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,380 shares of the medical equipment provider’s stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP raised its position in shares of Hologic by 46.0% in the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 216 shares during the period. EverSource Wealth Advisors LLC grew its stake in Hologic by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 260 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Hologic in the 4th quarter valued at about $49,000. West Financial Advisors LLC acquired a new stake in Hologic during the first quarter worth approximately $50,000. Finally, Covestor Ltd boosted its holdings in shares of Hologic by 49.3% during the fourth quarter. Covestor Ltd now owns 1,033 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 341 shares during the period. Institutional investors own 94.73% of the company’s stock.

Hologic Stock Performance

Shares of Hologic stock opened at $65.72 on Monday. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The company has a market cap of $14.65 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55. The company has a 50 day moving average of $61.55 and a 200-day moving average of $63.41. Hologic, Inc. has a 1-year low of $51.90 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 13.83% and a return on equity of 19.71%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOLX has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Hologic in a research note on Tuesday, May 27th. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $80.00 in a research report on Wednesday, July 9th. Stephens dropped their target price on Hologic from $77.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Evercore ISI upped their price target on shares of Hologic from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.75.

Insider Activity

In other Hologic news, Director Martin D. Madaus acquired 5,445 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the transaction, the director directly owned 5,445 shares in the company, valued at $300,781.80. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.88% 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.