Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Hologic, Inc. (NASDAQ:HOLX)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hologic, Inc. (NASDAQ:HOLX) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 28,847 shares of the medical equipment provider’s stock, valued at approximately $2,350,000.

Other large investors have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Hologic during the 1st quarter valued at approximately $120,827,000. Black Creek Investment Management Inc. raised its holdings in Hologic by 60.9% during 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. Mackenzie Financial Corp grew its holdings in Hologic by 1,023.3% in the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock valued at $66,506,000 after purchasing an additional 815,960 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Hologic in the second quarter valued at $39,427,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Hologic by 21.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,535,258 shares of the medical equipment provider’s stock worth $188,243,000 after buying an additional 450,190 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Performance

NASDAQ HOLX opened at $79.73 on Tuesday. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $18.52 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.98. The business’s 50-day moving average price is $80.38 and its 200 day moving average price is $78.38. Hologic, Inc. has a twelve month low of $67.59 and a twelve month high of $84.67.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same period last year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Hologic, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HOLX has been the subject of several recent research reports. Leerink Partners dropped their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. 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. UBS Group upped their target price on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.91.

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.