Parallel Advisors LLC Has $60,000 Position in Hologic, Inc. (NASDAQ:HOLX)

Parallel Advisors LLC cut its holdings in Hologic, Inc. (NASDAQ:HOLX) by 65.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 977 shares of the medical equipment provider’s stock after selling 1,830 shares during the period. Parallel Advisors LLC’s holdings in Hologic were worth $60,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in Hologic by 36.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 159 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in Hologic by 3.6% in the 4th quarter. Capital Investment Counsel Inc now owns 5,724 shares of the medical equipment provider’s stock valued at $413,000 after buying an additional 200 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in Hologic by 7.9% in the 4th quarter. Dark Forest Capital Management LP now owns 3,053 shares of the medical equipment provider’s stock valued at $220,000 after buying an additional 223 shares during the last quarter. Baker Avenue Asset Management LP raised its holdings in Hologic by 0.5% in the 4th quarter. Baker Avenue Asset Management LP now owns 42,051 shares of the medical equipment provider’s stock valued at $3,031,000 after buying an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Hologic by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 260 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Stock Performance

Shares of HOLX stock opened at $64.33 on Monday. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.55. Hologic, Inc. has a 52 week low of $51.90 and a 52 week high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $58.27 and a 200-day moving average of $65.26.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $1.03 EPS. Hologic’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Hologic, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on HOLX. Royal Bank of Canada lowered their price target on shares of Hologic from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Citigroup lowered their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Argus lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Evercore ISI lowered their price target on shares of Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.42.

Insiders Place Their Bets

In other news, Director Martin D. Madaus acquired 5,445 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $55.24 per share, with a total value of $300,781.80. Following the acquisition, the director now directly owns 5,445 shares of the company’s stock, valued at $300,781.80. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.88% of the company’s stock.

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.