Wedge Capital Management L L P NC Reduces Position in Hologic, Inc. (NASDAQ:HOLX)

Wedge Capital Management L L P NC decreased its holdings in Hologic, Inc. (NASDAQ:HOLX) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 456,854 shares of the medical equipment provider’s stock after selling 95,866 shares during the period. Wedge Capital Management L L P NC owned about 0.20% of Hologic worth $37,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Hologic by 77.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after acquiring an additional 2,753,016 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Hologic by 21.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock valued at $188,243,000 after buying an additional 450,190 shares in the last quarter. Black Creek Investment Management Inc. grew its position in shares of Hologic by 60.9% in the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after buying an additional 885,524 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Hologic by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock worth $172,780,000 after acquiring an additional 124,739 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Hologic by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,271,603 shares of the medical equipment provider’s stock valued at $168,666,000 after acquiring an additional 87,176 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday, July 30th. Citigroup downgraded shares of Hologic from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $85.00 in a report on Tuesday, October 1st. Royal Bank of Canada restated a “sector perform” rating and set a $82.00 target price on shares of Hologic in a research report on Friday, August 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Hologic Price Performance

Shares of HOLX stock traded up $1.48 during trading hours on Monday, hitting $81.29. 229,093 shares of the company’s stock were exchanged, compared to its average volume of 1,586,241. The firm has a 50 day moving average of $81.06 and a two-hundred day moving average of $77.59. Hologic, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The firm has a market cap of $18.97 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.89 and a beta of 0.98. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

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

Insider Activity at Hologic

In other Hologic 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 value of $294,237.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,280 shares of company stock valued at $1,469,973. 1.75% 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.