Sound Income Strategies LLC Makes New Investment in Hologic, Inc. (NASDAQ:HOLX)

Sound Income Strategies LLC acquired a new stake in Hologic, Inc. (NASDAQ:HOLX) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 838 shares of the medical equipment provider’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOLX. Wolff Wiese Magana LLC acquired a new stake in Hologic in the 3rd quarter worth about $25,000. General Partner Inc. purchased a new position in shares of Hologic during the 4th quarter worth about $26,000. Groupama Asset Managment boosted its position in shares of Hologic by 9.9% in the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 2,999 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Hologic in the second quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. grew its holdings in Hologic by 38.3% in the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Price Performance

Shares of HOLX stock opened at $71.02 on Friday. The firm has a fifty day simple moving average of $74.01 and a 200-day simple moving average of $78.25. The company has a market capitalization of $16.03 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.97. Hologic, Inc. has a twelve month low of $68.61 and a twelve month high of $84.67. The company has a current ratio of 3.69, a quick ratio of 3.03 and a debt-to-equity ratio of 0.49.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The company had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same period in the prior year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Hologic, Inc. will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. This represents a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on HOLX. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Hologic in a research note on Monday, January 13th. Raymond James increased their target price on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Finally, Evercore ISI lifted their price objective on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.92.

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.