Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Hologic, Inc. $HOLX

Sumitomo Mitsui Trust Group Inc. grew its holdings in Hologic, Inc. (NASDAQ:HOLX) by 9.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581,479 shares of the medical equipment provider’s stock after buying an additional 50,151 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hologic were worth $37,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Hologic by 34.4% in the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock valued at $408,283,000 after buying an additional 1,692,177 shares in the last quarter. Invesco Ltd. increased its position in shares of Hologic by 18.8% in the first quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider’s stock valued at $298,655,000 after buying an additional 764,573 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Hologic by 1.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,473,098 shares of the medical equipment provider’s stock valued at $276,303,000 after buying an additional 69,878 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Hologic by 0.8% in the first quarter. Ameriprise Financial Inc. now owns 3,512,594 shares of the medical equipment provider’s stock valued at $216,973,000 after buying an additional 29,133 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Hologic by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,838,656 shares of the medical equipment provider’s stock valued at $175,331,000 after buying an additional 213,366 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HOLX. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $80.00 in a research report on Wednesday, July 9th. Needham & Company LLC restated a “hold” rating on shares of Hologic in a research report on Tuesday, October 21st. Stephens downgraded Hologic from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Wall Street Zen downgraded Hologic from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI set a $78.00 target price on Hologic and gave the company an “outperform” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.23.

Hologic Price Performance

HOLX stock opened at $74.01 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81. The business has a 50 day simple moving average of $67.91 and a 200-day simple moving average of $64.25. The firm has a market capitalization of $16.46 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. Hologic, Inc. has a 1 year low of $51.90 and a 1 year high of $84.39.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Hologic had a return on equity of 19.69% and a net margin of 13.79%.The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. Equities research analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christiana Stamoulis sold 7,402 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $73.07, for a total value of $540,864.14. Following the completion of the sale, the director directly owned 47,336 shares in the company, valued at $3,458,841.52. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen P. Macmillan sold 138,358 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the sale, the chief executive officer owned 1,234,624 shares of the company’s stock, valued at $82,682,769.28. This trade represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.88% of the stock is owned by corporate insiders.

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.