Jennison Associates LLC Invests $30.08 Million in Hologic, Inc. (NASDAQ:HOLX)

Jennison Associates LLC bought a new position in shares of Hologic, Inc. (NASDAQ:HOLX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 420,981 shares of the medical equipment provider’s stock, valued at approximately $30,079,000. Jennison Associates LLC owned 0.18% of Hologic at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Hologic by 8.9% in the third quarter. Victory Capital Management Inc. now owns 4,838,090 shares of the medical equipment provider’s stock valued at $335,763,000 after purchasing an additional 393,371 shares during the last quarter. TD Asset Management Inc grew its position in shares of Hologic by 7.7% in the third quarter. TD Asset Management Inc now owns 1,845,462 shares of the medical equipment provider’s stock valued at $128,075,000 after purchasing an additional 131,999 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Hologic by 9.0% in the third quarter. Hsbc Holdings PLC now owns 1,721,339 shares of the medical equipment provider’s stock valued at $119,472,000 after purchasing an additional 141,542 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Hologic by 2.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,634,362 shares of the medical equipment provider’s stock valued at $115,586,000 after purchasing an additional 45,785 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Hologic by 4.5% in the third quarter. Nordea Investment Management AB now owns 1,616,999 shares of the medical equipment provider’s stock valued at $113,077,000 after purchasing an additional 69,494 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOLX has been the topic of several research reports. Citigroup upgraded shares of Hologic from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research note on Wednesday, April 10th. StockNews.com downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Evercore ISI upped their price objective on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, UBS Group upped their price objective on shares of Hologic from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $87.00.

Insider Buying and Selling

In related news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the sale, the director now owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Karleen Marie Oberton sold 14,940 shares of Hologic stock in a transaction on Monday, January 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,120,500.00. Following the sale, the chief financial officer now owns 103,916 shares of the company’s stock, valued at approximately $7,793,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott T. Garrett sold 16,441 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now directly owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. Insiders have sold 32,846 shares of company stock valued at $2,473,443 in the last quarter. Company insiders own 1.75% of the company’s stock.

Hologic Stock Performance

NASDAQ:HOLX opened at $76.71 on Thursday. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.61 and a beta of 1.00. The firm’s fifty day simple moving average is $75.95 and its 200 day simple moving average is $72.72. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $87.88.

Hologic (NASDAQ:HOLX) last posted its earnings results on Thursday, February 1st. The medical equipment provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $989.32 million. Hologic had a net margin of 12.98% and a return on equity of 18.91%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, equities research analysts expect that Hologic, Inc. will post 4.01 earnings per share for the current fiscal 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.