Plato Investment Management Ltd Increases Stake in Hologic, Inc. (NASDAQ:HOLX)

Plato Investment Management Ltd grew its stake in Hologic, Inc. (NASDAQ:HOLX) by 20,295.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,691 shares of the medical equipment provider’s stock after buying an additional 4,668 shares during the quarter. Plato Investment Management Ltd’s holdings in Hologic were worth $348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Hologic in the 2nd quarter valued at about $25,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic in the 1st quarter valued at about $37,000. Mather Group LLC. purchased a new position in shares of Hologic in the 1st quarter valued at about $48,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 137 shares during the period. Finally, Toth Financial Advisory Corp boosted its stake in shares of Hologic by 81.1% in the 1st quarter. Toth Financial Advisory Corp now owns 775 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 347 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity

In other news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now owns 3,735 shares of the company’s stock, valued at $310,415.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the transaction, the insider now directly owns 3,735 shares in the company, valued at approximately $310,415.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,280 shares of company stock valued at $1,469,973. Company insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Evercore ISI boosted their target price on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Stephens restated an “overweight” rating and set a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Royal Bank of Canada restated a “sector perform” rating and set a $82.00 target price on shares of Hologic in a research note on Friday, August 16th. Finally, StockNews.com upgraded Hologic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $82.70 on Tuesday. The stock has a market cap of $19.30 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.53 and a beta of 0.98. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $80.36 and a two-hundred day moving average of $76.92. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $84.67.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, research analysts forecast that Hologic, Inc. will post 4.09 earnings per share for the current year.

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.