State of Michigan Retirement System Reduces Holdings in Hologic, Inc. (NASDAQ:HOLX)

State of Michigan Retirement System reduced its position in Hologic, Inc. (NASDAQ:HOLX) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,865 shares of the medical equipment provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Hologic were worth $4,742,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HOLX. Massmutual Trust Co. FSB ADV raised its holdings in Hologic by 24.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 137 shares in the last quarter. Graypoint LLC lifted its position in shares of Hologic by 3.9% during the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock worth $302,000 after purchasing an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Hologic by 2.3% in the second quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock worth $536,000 after purchasing an additional 165 shares in the last quarter. Lincoln National Corp increased its holdings in Hologic by 4.0% in the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 178 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Hologic by 11.5% during the fourth quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 189 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Argus boosted their price objective on Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. StockNews.com lowered Hologic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 10th. Stephens restated an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Hologic in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Hologic currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Activity at Hologic

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

Hologic Price Performance

NASDAQ:HOLX traded up $0.16 during midday trading on Tuesday, hitting $79.91. 42,642 shares of the stock were exchanged, compared to its average volume of 1,634,107. The business has a 50-day moving average price of $77.92 and a two-hundred day moving average price of $76.20. The company has a current ratio of 3.99, a quick ratio of 3.29 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 2.64 and a beta of 0.99. Hologic, Inc. has a one year low of $64.02 and a one year high of $84.67.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating 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 analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that Hologic, Inc. will post 4.08 EPS for the current year.

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.