Principal Financial Group Inc. Acquires 9,419 Shares of Hologic, Inc. (NASDAQ:HOLX)

Principal Financial Group Inc. raised its holdings in Hologic, Inc. (NASDAQ:HOLX) by 3.6% during the third quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Financial Security Advisor Inc. bought a new position in Hologic in the 3rd quarter valued at about $202,000. Moloney Securities Asset Management LLC lifted its holdings in shares of Hologic by 3.8% in the third quarter. Moloney Securities Asset Management LLC now owns 12,839 shares of the medical equipment provider’s stock valued at $1,046,000 after purchasing an additional 469 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Hologic by 3.7% in the third quarter. QRG Capital Management Inc. now owns 92,476 shares of the medical equipment provider’s stock valued at $7,533,000 after purchasing an additional 3,314 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Hologic by 11.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 266,700 shares of the medical equipment provider’s stock valued at $21,725,000 after buying an additional 26,723 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in Hologic during the third quarter worth $725,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $79.18 on Thursday. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.98. The stock has a fifty day simple moving average of $80.84 and a two-hundred day simple moving average of $78.22. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. Hologic, Inc. has a 1-year low of $67.59 and a 1-year high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $987.90 million during the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Analysts anticipate that Hologic, Inc. will post 4.27 earnings per share for the current year.

Analyst Ratings Changes

HOLX has been the topic of a number of analyst reports. Leerink Partners cut their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on shares of Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Stephens restated an “overweight” rating and issued a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Finally, Mizuho reduced their target price on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Hologic presently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

About Hologic

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.