Meritage Portfolio Management Buys 8,806 Shares of Hologic, Inc. (NASDAQ:HOLX)

Meritage Portfolio Management raised its holdings in Hologic, Inc. (NASDAQ:HOLX) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,485 shares of the medical equipment provider’s stock after buying an additional 8,806 shares during the quarter. Meritage Portfolio Management’s holdings in Hologic were worth $10,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HOLX. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Hologic in the 4th quarter worth about $27,000. Venturi Wealth Management LLC acquired a new position in shares of Hologic during the 3rd quarter worth about $29,000. NBC Securities Inc. acquired a new stake in shares of Hologic during the third quarter worth about $33,000. Deseret Mutual Benefit Administrators boosted its stake in Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 155 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Hologic Price Performance

Shares of HOLX stock traded up $0.75 during trading on Friday, hitting $76.46. The company had a trading volume of 396,496 shares, compared to its average volume of 1,762,392. The firm has a market capitalization of $17.95 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. Hologic, Inc. has a one year low of $64.02 and a one year high of $87.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89. The stock’s 50-day moving average price is $75.98 and its 200 day moving average price is $72.74.

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have recently weighed in on HOLX shares. UBS Group upped their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Evercore ISI increased their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. William Blair reiterated an “outperform” rating on shares of Hologic in a research note on Friday, February 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hologic has a consensus rating of “Hold” and an average target price of $87.00.

Hologic Company 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.