King Wealth Management Group Cuts Position in Hologic, Inc. $HOLX

King Wealth Management Group trimmed its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 62.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the medical equipment provider’s stock after selling 19,850 shares during the period. King Wealth Management Group’s holdings in Hologic were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in Hologic by 294.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock worth $718,223,000 after purchasing an additional 8,227,318 shares during the last quarter. Invesco Ltd. lifted its position in Hologic by 72.5% during the second quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after purchasing an additional 3,505,828 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hologic by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,828,325 shares of the medical equipment provider’s stock worth $378,209,000 after buying an additional 97,142 shares in the last quarter. Black Creek Investment Management Inc. increased its holdings in shares of Hologic by 26.1% in the 2nd quarter. Black Creek Investment Management Inc. now owns 4,027,829 shares of the medical equipment provider’s stock worth $262,453,000 after buying an additional 832,444 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Hologic by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 3,090,306 shares of the medical equipment provider’s stock valued at $201,364,000 after buying an additional 66,453 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Hologic Stock Up 0.1%

NASDAQ:HOLX opened at $75.15 on Wednesday. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $75.36. The company has a current ratio of 4.04, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $74.90 and a 200-day simple moving average of $71.75.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.05). Hologic had a return on equity of 19.58% and a net margin of 13.18%.The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on HOLX shares. Evercore lowered Hologic from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $79.00 to $78.00 in a research report on Monday, January 5th. Mizuho cut Hologic from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $78.00 in a report on Thursday, October 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $78.00 target price on shares of Hologic in a research report on Wednesday, October 22nd. BTIG Research restated a “neutral” rating on shares of Hologic in a research report on Tuesday, October 21st. Finally, Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.42.

Hologic Company Profile

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.