Seven Eight Capital LP Acquires 1,088 Shares of Hologic, Inc. (NASDAQ:HOLX)

Seven Eight Capital LP grew its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 35.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,169 shares of the medical equipment provider’s stock after acquiring an additional 1,088 shares during the quarter. Seven Eight Capital LP’s holdings in Hologic were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Hologic by 24.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 137 shares during the last quarter. Graypoint LLC lifted its position in Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock worth $302,000 after buying an additional 147 shares during the last quarter. Arizona State Retirement System lifted its position in Hologic by 0.3% in the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after buying an additional 172 shares during the last quarter. Lincoln National Corp lifted its position in Hologic by 4.0% in the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 178 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Hologic by 39.3% in the fourth quarter. Allworth Financial LP now owns 634 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 179 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Hologic Stock Performance

Shares of Hologic stock opened at $78.34 on Thursday. Hologic, Inc. has a 52 week low of $64.02 and a 52 week high of $82.31. The business’s fifty day simple moving average is $74.43 and its 200-day simple moving average is $74.91. The firm has a market cap of $18.28 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.60 and a beta of 0.99. 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 announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 EPS. Equities analysts forecast that Hologic, Inc. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI lowered their price target on Hologic from $78.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price target on Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Argus increased their target price on Hologic from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Hologic in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.55.

Insider Activity

In other news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the transaction, the director now owns 45,472 shares in the company, valued at approximately $3,615,024. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

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.