Quarry LP Purchases 1,382 Shares of Hologic, Inc. (NASDAQ:HOLX)

Quarry LP boosted its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 323.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,809 shares of the medical equipment provider’s stock after buying an additional 1,382 shares during the period. Quarry LP’s holdings in Hologic were worth $134,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new stake in Hologic in the 2nd quarter valued at $37,000. Creative Planning grew its stake in Hologic by 2.4% in the 2nd quarter. Creative Planning now owns 21,813 shares of the medical equipment provider’s stock valued at $1,620,000 after purchasing an additional 503 shares during the period. Select Equity Group L.P. increased its position in shares of Hologic by 87.6% during the 2nd quarter. Select Equity Group L.P. now owns 338,020 shares of the medical equipment provider’s stock valued at $25,098,000 after purchasing an additional 157,835 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Hologic by 1,023.3% during the 2nd 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. 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 purchasing an additional 450,190 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brandon Schnittker sold 476 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the transaction, the insider now directly owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares in the company, valued at approximately $3,615,024. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandon Schnittker sold 476 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares of the company’s stock, valued at $310,415.85. The disclosure for this sale can be found here. Insiders sold a total of 18,280 shares of company stock worth $1,469,973 over the last ninety days. 1.75% of the stock is owned by corporate insiders.

Hologic Stock Performance

NASDAQ:HOLX opened at $80.56 on Wednesday. Hologic, Inc. has a 52-week low of $64.02 and a 52-week high of $84.67. The business’s fifty day moving average is $81.19 and its 200 day moving average is $77.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 2.58 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that Hologic, Inc. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 target price on shares of Hologic in a research report on Friday, August 16th. Stephens reissued an “overweight” rating and set a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a report on Tuesday, September 17th. Finally, Citigroup lowered Hologic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Hologic has a consensus rating of “Moderate Buy” 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.