Patten & Patten Inc. TN Cuts Stake in Hologic, Inc. (NASDAQ:HOLX)

Patten & Patten Inc. TN lowered its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,839 shares of the medical equipment provider’s stock after selling 1,380 shares during the period. Patten & Patten Inc. TN’s holdings in Hologic were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of HOLX. State Street Corp boosted its holdings in Hologic by 0.8% in the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider’s stock valued at $847,944,000 after purchasing an additional 81,057 shares during the last quarter. FMR LLC lifted its holdings in shares of Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock worth $453,940,000 after acquiring an additional 2,174,093 shares during the last quarter. Victory Capital Management Inc. increased its stake in Hologic by 0.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock worth $354,506,000 after buying an additional 24,358 shares during the period. The Manufacturers Life Insurance Company increased its stake in 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 buying an additional 18,774 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in 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 worth $200,952,000 after buying an additional 195,285 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Performance

NASDAQ:HOLX opened at $60.71 on Monday. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $67.18 and a two-hundred day moving average price of $74.64. Hologic, Inc. has a twelve month low of $60.33 and a twelve month high of $84.67. The company has a market capitalization of $13.62 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. As a group, research analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on HOLX shares. Stephens reissued an “overweight” rating and issued a $84.00 price objective on shares of Hologic in a research report on Thursday, February 6th. Royal Bank of Canada dropped their target price on shares of Hologic from $88.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup decreased their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.62.

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.