RIA Advisory Group LLC Acquires New Stake in Hologic, Inc. (NASDAQ:HOLX)

RIA Advisory Group LLC acquired a new position in shares of Hologic, Inc. (NASDAQ:HOLX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,258 shares of the medical equipment provider’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in Hologic during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC acquired a new position in shares of Hologic during the 3rd quarter worth approximately $25,000. iA Global Asset Management Inc. purchased a new stake in Hologic in the 1st quarter valued at approximately $37,000. Sunbelt Securities Inc. acquired a new stake in Hologic during the 2nd quarter valued at $37,000. Finally, Cromwell Holdings LLC raised its stake in Hologic by 330.2% in the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Stock Up 1.4 %

Hologic stock traded up $1.06 during midday trading on Friday, hitting $78.60. 1,834,908 shares of the company were exchanged, compared to its average volume of 1,593,948. The company has a market cap of $18.26 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.50 and a beta of 0.98. Hologic, Inc. has a fifty-two week low of $67.59 and a fifty-two week high of $84.67. The company’s fifty day moving average price is $80.71 and its 200-day moving average price is $78.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same period in the prior year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Hologic, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday, October 15th. UBS Group lifted their price target on Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Mizuho decreased their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

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.