Eagle Ridge Investment Management Has $14.77 Million Holdings in Hologic, Inc. (NASDAQ:HOLX)

Eagle Ridge Investment Management boosted its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,420 shares of the medical equipment provider’s stock after purchasing an additional 5,673 shares during the period. Hologic comprises 1.4% of Eagle Ridge Investment Management’s holdings, making the stock its 27th largest position. Eagle Ridge Investment Management owned approximately 0.08% of Hologic worth $14,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Hologic during the 4th quarter worth about $217,529,000. The Manufacturers Life Insurance Company raised its stake 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 purchasing an additional 1,168,564 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Hologic in the 4th quarter valued at approximately $30,079,000. Cubist Systematic Strategies LLC grew its stake in shares of Hologic by 207.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 538,814 shares of the medical equipment provider’s stock valued at $38,498,000 after buying an additional 363,796 shares in the last quarter. Finally, Nuance Investments LLC acquired a new position in Hologic during the fourth quarter worth $24,431,000. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Argus increased their price target on shares of Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Stephens assumed coverage on Hologic in a research note on Thursday, June 27th. They issued an “overweight” rating and a $87.00 price objective on the stock. Evercore ISI reduced their target price on Hologic from $78.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Hologic presently has a consensus rating of “Moderate Buy” and an average target price of $85.55.

Hologic Stock Performance

Shares of HOLX traded down $0.57 during midday trading on Tuesday, reaching $73.53. 1,663,732 shares of the stock were exchanged, compared to its average volume of 1,637,241. The stock’s 50 day simple moving average is $74.28 and its 200 day simple moving average is $74.35. The company has a market cap of $17.16 billion, a P/E ratio of 37.60, a PEG ratio of 2.47 and a beta of 0.99. Hologic, Inc. has a twelve month low of $64.02 and a twelve month high of $82.45. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52.

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