Bank of New York Mellon Corp Trims Stock Holdings in Hologic, Inc. $HOLX

Bank of New York Mellon Corp lowered its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,384,776 shares of the medical equipment provider’s stock after selling 49,198 shares during the period. Bank of New York Mellon Corp owned 0.62% of Hologic worth $90,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Services Automobile Association acquired a new stake in Hologic in the first quarter valued at about $347,000. K.J. Harrison & Partners Inc bought a new position in shares of Hologic in the second quarter worth about $1,987,000. Nordea Investment Management AB boosted its stake in shares of Hologic by 7.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,587,414 shares of the medical equipment provider’s stock valued at $168,674,000 after purchasing an additional 174,828 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Hologic by 10.6% in the 2nd quarter. Carnegie Investment Counsel now owns 221,528 shares of the medical equipment provider’s stock valued at $14,435,000 after purchasing an additional 21,273 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Hologic during the 1st quarter valued at approximately $641,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Hologic Trading Down 0.1%

HOLX opened at $74.10 on Friday. Hologic, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $80.31. The firm has a market capitalization of $16.48 billion, a PE ratio of 30.75, a P/E/G ratio of 2.54 and a beta of 0.65. 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 company’s 50-day moving average is $68.99 and its 200 day moving average is $65.16.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. As a group, research analysts predict that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stephens downgraded Hologic from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $78.00 to $76.00 in a report on Wednesday, October 22nd. UBS Group lifted their price target on Hologic from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. restated a “neutral” rating and set a $78.00 price target on shares of Hologic in a report on Wednesday, October 22nd. Evercore ISI set a $78.00 price objective on shares of Hologic and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, Leerink Partners lifted their target price on shares of Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Hologic presently has an average rating of “Hold” and a consensus target price of $79.23.

Insider Activity at Hologic

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