M&T Bank Corp Sells 4,585 Shares of Hologic, Inc. (NASDAQ:HOLX)

M&T Bank Corp cut its stake in Hologic, Inc. (NASDAQ:HOLX) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,483 shares of the medical equipment provider’s stock after selling 4,585 shares during the period. M&T Bank Corp’s holdings in Hologic were worth $1,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HOLX. Qube Research & Technologies Ltd increased its position in shares of Hologic by 117.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,378,258 shares of the medical equipment provider’s stock worth $95,651,000 after buying an additional 743,557 shares during the period. Jennison Associates LLC bought a new position in shares of Hologic in the 4th quarter worth about $30,079,000. Assenagon Asset Management S.A. boosted its position in shares of Hologic by 90.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 845,493 shares of the medical equipment provider’s stock valued at $58,677,000 after purchasing an additional 401,486 shares in the last quarter. Victory Capital Management Inc. grew its stake in Hologic by 8.9% during the third quarter. Victory Capital Management Inc. now owns 4,838,090 shares of the medical equipment provider’s stock worth $335,763,000 after purchasing an additional 393,371 shares during the period. Finally, Clearbridge Investments LLC bought a new stake in Hologic in the third quarter worth approximately $25,398,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HOLX shares. UBS Group raised their price objective on shares of Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Raymond James increased their price objective on shares of Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. boosted their target price on Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Evercore ISI increased their price target on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic has an average rating of “Moderate Buy” and a consensus target price of $85.60.

Insider Buying and Selling

In related news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the transaction, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $75.75 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. Hologic, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $84.28. The stock has a market cap of $17.68 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The stock has a fifty day moving average of $76.24 and a 200-day moving average of $73.24.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $1.06 earnings per share. Hologic’s revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that Hologic, Inc. will post 4.08 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.