Congress Asset Management Co. MA Has $82.95 Million Position in Hologic, Inc. (NASDAQ:HOLX)

Congress Asset Management Co. MA reduced its stake in shares of Hologic, Inc. (NASDAQ:HOLX) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,161,011 shares of the medical equipment provider’s stock after selling 21,254 shares during the quarter. Congress Asset Management Co. MA owned about 0.49% of Hologic worth $82,954,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Hologic during the 4th quarter worth approximately $217,529,000. The Manufacturers Life Insurance Company increased its holdings in shares of Hologic by 117.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock worth $154,598,000 after acquiring an additional 1,168,564 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Hologic by 117.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,378,258 shares of the medical equipment provider’s stock worth $95,651,000 after acquiring an additional 743,557 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Hologic during the 4th quarter worth approximately $30,079,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Hologic during the 3rd quarter worth approximately $25,398,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Argus upped their target price on Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.60.

Hologic Trading Down 0.5 %

Shares of HOLX stock traded down $0.35 on Friday, hitting $71.79. The company had a trading volume of 1,033,028 shares, compared to its average volume of 1,250,862. The firm has a market cap of $16.75 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.40 and a beta of 1.00. The stock’s 50-day moving average is $75.16 and its two-hundred day moving average is $74.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $82.45.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, equities research analysts anticipate that Hologic, Inc. will post 4.08 earnings per share for the current fiscal year.

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.