Bank of Montreal Can Reduces Position in Hologic, Inc. $HOLX

Bank of Montreal Can trimmed its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,094 shares of the medical equipment provider’s stock after selling 84,783 shares during the period. Bank of Montreal Can’s holdings in Hologic were worth $22,551,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HOLX. Victory Capital Management Inc. grew its stake in shares of Hologic by 34.4% during the first quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider’s stock valued at $408,283,000 after buying an additional 1,692,177 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Hologic by 18.8% during the 1st quarter. Invesco Ltd. now owns 4,834,957 shares of the medical equipment provider’s stock worth $298,655,000 after acquiring an additional 764,573 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Hologic by 1.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,473,098 shares of the medical equipment provider’s stock valued at $276,303,000 after acquiring an additional 69,878 shares during the period. Ameriprise Financial Inc. grew its position in Hologic by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 3,512,594 shares of the medical equipment provider’s stock valued at $216,973,000 after acquiring an additional 29,133 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Hologic by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,838,656 shares of the medical equipment provider’s stock valued at $175,331,000 after acquiring an additional 213,366 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Activity at Hologic

In other Hologic news, CEO Stephen P. Macmillan sold 138,358 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $66.97, for a total transaction of $9,265,835.26. Following the sale, the chief executive officer owned 1,234,624 shares of the company’s stock, valued at approximately $82,682,769.28. This trade represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christiana Stamoulis sold 7,402 shares of Hologic stock in a transaction on Monday, October 20th. The shares were sold at an average price of $73.07, for a total value of $540,864.14. Following the completion of the transaction, the director owned 47,336 shares in the company, valued at $3,458,841.52. This represents a 13.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

HOLX has been the subject of several research analyst reports. Leerink Partners lifted their target price on Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $78.00 price target on shares of Hologic in a research note on Wednesday, October 22nd. Argus lifted their price objective on shares of Hologic from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, September 19th. Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Stephens lowered shares of Hologic from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $78.00 to $76.00 in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Hologic presently has a consensus rating of “Hold” and a consensus target price of $79.23.

Hologic Stock Performance

HOLX stock opened at $74.10 on Friday. Hologic, Inc. has a 1-year low of $51.90 and a 1-year high of $80.31. The business has a 50-day moving average price of $68.99 and a 200 day moving average price of $65.11. The company has a market capitalization of $16.48 billion, a P/E ratio of 30.75, a PEG ratio of 2.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81.

Hologic (NASDAQ:HOLX) last posted its earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Hologic, Inc. will post 4.28 EPS for the current fiscal year.

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.