Ovata Capital Management Ltd Invests $514,000 in Hologic, Inc. $HOLX

Ovata Capital Management Ltd acquired a new position in Hologic, Inc. (NASDAQ:HOLX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,894 shares of the medical equipment provider’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chung Wu Investment Group LLC purchased a new stake in shares of Hologic in the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of Hologic by 193.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 273 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Hologic during the first quarter valued at approximately $34,000. Cromwell Holdings LLC increased its position in shares of Hologic by 307.0% during the second quarter. Cromwell Holdings LLC now owns 578 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 436 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 216 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Stephen P. Macmillan sold 138,358 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 1,234,624 shares of the company’s stock, valued at $82,682,769.28. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christiana Stamoulis sold 7,402 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 47,336 shares of the company’s stock, valued at $3,458,841.52. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.88% of the stock is owned by company insiders.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $74.23 on Thursday. The stock has a fifty day simple moving average of $68.70 and a two-hundred day simple moving average of $64.93. Hologic, Inc. has a 1-year low of $51.90 and a 1-year high of $81.13. The firm has a market cap of $16.51 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65. The company has a current ratio of 3.55, a quick ratio of 2.81 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Monday, November 3rd. The medical equipment provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Hologic had a return on equity of 19.69% and a net margin of 13.79%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $1.01 earnings per share. Hologic’s revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HOLX shares. Wall Street Zen downgraded Hologic from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. UBS Group increased their price target on Hologic from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Stephens downgraded Hologic from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Leerink Partners increased their price target on Hologic from $70.00 to $78.00 and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Hologic in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Hologic presently has a consensus rating of “Hold” and an average target price of $79.23.

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.