Victory Capital Management Inc. Raises Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Posted by MarketBeat News on Aug 6th, 2022

Hologic logo Victory Capital Management Inc. raised its position in shares of Hologic, Inc. (NASDAQ:HOLX – Get Rating) by 33.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,851 shares of the medical equipment provider’s stock after acquiring an additional 53,992 shares during the period. Victory Capital Management Inc.’s holdings in Hologic were worth $15,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Integrated Advisors Network LLC raised its holdings in shares of Hologic by 17.1% during the 1st quarter. Integrated Advisors Network LLC now owns 3,800 shares of the medical equipment provider’s stock worth $292,000 after acquiring an additional 555 shares in the last quarter. McGuire Investment Group LLC raised its holdings in shares of Hologic by 1.2% during the 1st quarter. McGuire Investment Group LLC now owns 147,777 shares of the medical equipment provider’s stock worth $11,352,000 after acquiring an additional 1,818 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Hologic by 2.8% during the 1st quarter. Curbstone Financial Management Corp now owns 26,396 shares of the medical equipment provider’s stock worth $2,028,000 after acquiring an additional 730 shares in the last quarter. Metis Global Partners LLC purchased a new stake in shares of Hologic during the 1st quarter worth approximately $307,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Hologic during the 1st quarter worth approximately $45,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HOLX shares. Wells Fargo & Company downgraded Hologic from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $90.00 to $75.00 in a research report on Monday, April 25th. BTIG Research downgraded Hologic from a “buy” rating to a “neutral” rating in a research report on Monday, July 18th. UBS Group started coverage on Hologic in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $73.00 price target for the company. SVB Leerink raised their price target on Hologic to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 17th. Finally, Citigroup lowered their price target on Hologic from $78.00 to $75.00 in a research report on Thursday, April 28th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.71.

Hologic Stock Performance

HOLX stock opened at $71.40 on Friday. The company has a quick ratio of 3.32, a current ratio of 3.91 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $71.14 and its two-hundred day simple moving average is $72.79. Hologic, Inc. has a twelve month low of $66.58 and a twelve month high of $81.04. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.82 and a beta of 1.05.

Hologic (NASDAQ:HOLX – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $896.71 million. Hologic had a return on equity of 37.48% and a net margin of 28.93%. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. Analysts predict that Hologic, Inc. will post 5.82 earnings per share for the current year.

Insider Activity

In other news, insider Jan Verstreken sold 6,500 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $78.80, for a total transaction of $512,200.00. Following the transaction, the insider now owns 64,191 shares in the company, valued at $5,058,250.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.54% of the company’s stock.

Hologic Company Profile

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Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment in the United States, Europe, the Asia-Pacific, and internationally. It operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.