Hologic, Inc. (NASDAQ:HOLX) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lowered its position in Hologic, Inc. (NASDAQ:HOLX) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,747 shares of the medical equipment provider’s stock after selling 705 shares during the period. Hologic makes up about 1.3% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 29th biggest position. Eagle Ridge Investment Management owned approximately 0.08% of Hologic worth $13,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Equity Partners purchased a new position in shares of Hologic during the 4th quarter worth $209,000. Leeward Investments LLC MA purchased a new position in shares of Hologic in the 4th quarter worth $5,610,000. Trust Asset Management LLC purchased a new position in shares of Hologic in the 4th quarter worth $204,000. Stevens Capital Management LP purchased a new position in shares of Hologic in the 4th quarter worth $806,000. Finally, Meritage Portfolio Management raised its position in shares of Hologic by 6.6% in the 4th quarter. Meritage Portfolio Management now owns 141,485 shares of the medical equipment provider’s stock worth $10,109,000 after buying an additional 8,806 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity

In other news, 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 transaction of $1,241,295.50. Following the sale, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the transaction, the director now owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 48,611 shares in the company, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Hologic Stock Performance

NASDAQ HOLX traded up $0.61 during trading hours on Monday, reaching $76.59. The company’s stock had a trading volume of 402,363 shares, compared to its average volume of 1,752,195. 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 business has a 50-day simple moving average of $76.03 and a 200 day simple moving average of $72.82. Hologic, Inc. has a 52 week low of $64.02 and a 52 week high of $87.88. The stock has a market cap of $17.98 billion, a PE ratio of 36.01, a PEG ratio of 2.57 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HOLX. Raymond James increased their target price on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Hologic in a report on Friday, February 2nd. StockNews.com downgraded Hologic from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Wednesday, April 10th. Finally, Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Hologic has a consensus rating of “Hold” and an average price target of $87.00.

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.