Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Hologic, Inc. $HOLX

Sumitomo Mitsui Trust Group Inc. lifted its stake in Hologic, Inc. (NASDAQ:HOLX) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 581,479 shares of the medical equipment provider’s stock after purchasing an additional 50,151 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Hologic worth $37,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chung Wu Investment Group LLC purchased a new position in shares of Hologic in the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Hologic by 193.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 273 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Hologic in the first quarter worth approximately $34,000. Cromwell Holdings LLC raised its holdings in shares of Hologic by 307.0% in the second quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 436 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Hologic in the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Up 0.1%

NASDAQ:HOLX opened at $74.01 on Wednesday. The company has a market cap of $16.46 billion, a PE ratio of 30.71, a P/E/G ratio of 2.54 and a beta of 0.63. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $84.39. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $67.91 and its two-hundred day moving average is $64.25.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.06 EPS. Hologic’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that Hologic, Inc. will post 4.28 EPS for the current year.

Insider Activity at Hologic

In other Hologic news, Director Christiana Stamoulis sold 7,402 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $73.07, for a total value of $540,864.14. Following the sale, the director owned 47,336 shares in the company, valued at approximately $3,458,841.52. This represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen P. Macmillan sold 138,358 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the sale, the chief executive officer owned 1,234,624 shares in the company, valued at approximately $82,682,769.28. This represents a 10.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.88% of the company’s stock.

Wall Street Analysts Forecast Growth

HOLX has been the topic of several research reports. Raymond James Financial lowered shares of Hologic from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 22nd. UBS Group increased their target price on shares of Hologic from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Argus increased their target price on shares of Hologic from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Hologic in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Hologic in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.23.

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.