Envestnet Portfolio Solutions Inc. Cuts Position in Hologic, Inc. (NASDAQ:HOLX)

Envestnet Portfolio Solutions Inc. lessened its holdings in Hologic, Inc. (NASDAQ:HOLX) by 57.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,205 shares of the medical equipment provider’s stock after selling 8,412 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Hologic were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HOLX. EverSource Wealth Advisors LLC increased its stake in Hologic by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 260 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Hologic by 36.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 590 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 159 shares in the last quarter. Smithfield Trust Co increased its stake in Hologic by 160.0% during the 4th quarter. Smithfield Trust Co now owns 650 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 400 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Hologic during the 4th quarter worth approximately $49,000. Finally, West Financial Advisors LLC purchased a new stake in Hologic during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Trading Down 0.2%

HOLX opened at $65.01 on Friday. Hologic, Inc. has a one year low of $51.90 and a one year high of $84.67. The stock has a market capitalization of $14.49 billion, a PE ratio of 27.43, a P/E/G ratio of 2.38 and a beta of 0.55. The business’s 50 day moving average price is $60.00 and its 200 day moving average price is $63.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 3.24.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.71% and a net margin of 13.83%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts expect that Hologic, Inc. will post 4.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martin D. Madaus purchased 5,445 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the purchase, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $300,781.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI cut their price objective on Hologic from $65.00 to $62.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Argus lowered Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Wall Street Zen cut Hologic from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Raymond James Financial restated an “outperform” rating and set a $71.00 target price (down from $90.00) on shares of Hologic in a report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on Hologic from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.42.

Hologic Company Profile

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.