Continental Investors Services Inc. Takes $869,000 Position in Hologic, Inc. (NASDAQ:HOLX)

Posted by Defense World Staff on Mar 18th, 2023

Hologic logo Continental Investors Services Inc. acquired a new position in Hologic, Inc. (NASDAQ:HOLX – Get Rating) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,544 shares of the medical equipment provider’s stock, valued at approximately $869,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOLX. Salem Investment Counselors Inc. boosted its stake in shares of Hologic by 163.9% during the second quarter. Salem Investment Counselors Inc. now owns 549 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 341 shares in the last quarter. Lansing Street Advisors purchased a new stake in shares of Hologic during the third quarter valued at about $44,000. Neo Ivy Capital Management bought a new stake in shares of Hologic in the 2nd quarter valued at about $56,000. Quadrant Capital Group LLC grew its position in shares of Hologic by 23.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 929 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 175 shares during the last quarter. Finally, Private Trust Co. NA bought a new position in shares of Hologic during the 2nd quarter worth approximately $64,000. 95.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James raised their target price on shares of Hologic from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Citigroup upped their target price on Hologic from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Royal Bank of Canada began coverage on Hologic in a research note on Tuesday, December 6th. They issued a “sector perform” rating and a $75.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Hologic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Cowen increased their price objective on shares of Hologic from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.08.

Hologic Stock Down 1.6 %

NASDAQ:HOLX opened at $77.07 on Friday. The firm has a market capitalization of $19.00 billion, a P/E ratio of 19.66, a PEG ratio of 1.40 and a beta of 1.01. The company’s fifty day moving average price is $81.04 and its 200-day moving average price is $74.00. Hologic, Inc. has a 1-year low of $59.78 and a 1-year high of $86.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.21 and a quick ratio of 3.50.

Hologic (NASDAQ:HOLX – Get Rating) last posted its earnings results on Wednesday, February 1st. The medical equipment provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. Hologic had a return on equity of 25.12% and a net margin of 22.17%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $2.17 earnings per share. Hologic’s revenue for the quarter was down 27.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Hologic, Inc. will post 3.74 EPS for the current year.

Insider Activity

In related news, insider Benjamin Jordan Cohn sold 9,128 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $85.28, for a total transaction of $778,435.84. Following the sale, the insider now owns 14,298 shares in the company, valued at $1,219,333.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.66% of the company’s stock.

Hologic Profile

(Get Rating)

Hologic, Inc engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products dedicated to serve the healthcare needs of women. It operates through the following segments: Breast Health, Diagnostics, GYN Surgical, and Skeletal Health. The Breast Health segment includes a portfolio of solutions for breast cancer care for radiology, pathology, and surgery.