BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Position in Hologic, Inc. (NASDAQ:HOLX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 13.4% in the 3rd quarter, Holdings Channel reports. The firm owned 38,944 shares of the medical equipment provider’s stock after selling 6,019 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Hologic were worth $3,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Hologic by 64.0% during the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after buying an additional 2,174,093 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Hologic by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider’s stock worth $208,051,000 after acquiring an additional 18,774 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Hologic by 8.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider’s stock valued at $200,952,000 after acquiring an additional 195,285 shares during the last quarter. Black Creek Investment Management Inc. increased its position in Hologic by 60.9% in the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock worth $173,669,000 after purchasing an additional 885,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hologic by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,992 shares of the medical equipment provider’s stock valued at $172,780,000 after purchasing an additional 124,739 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Tuesday, October 15th. Leerink Partners lowered their price objective on Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their target price on Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $85.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Hologic Price Performance

Hologic stock opened at $77.47 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 2.49 and a beta of 0.96. The firm has a 50-day moving average of $80.13 and a two-hundred day moving average of $78.52. 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 results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm 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%. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, research analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current year.

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.