Coastline Trust Co Acquires New Stake in Hologic, Inc. (NASDAQ:HOLX)

Coastline Trust Co bought a new position in shares of Hologic, Inc. (NASDAQ:HOLX) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,447 shares of the medical equipment provider’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Hologic by 8.8% during the third quarter. Empowered Funds LLC now owns 3,603 shares of the medical equipment provider’s stock worth $294,000 after buying an additional 291 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Hologic by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 8,473 shares of the medical equipment provider’s stock worth $690,000 after acquiring an additional 147 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Hologic by 7.9% in the third quarter. CIBC Asset Management Inc now owns 33,973 shares of the medical equipment provider’s stock valued at $2,767,000 after purchasing an additional 2,483 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Hologic by 5.4% in the third quarter. OneDigital Investment Advisors LLC now owns 7,075 shares of the medical equipment provider’s stock worth $576,000 after purchasing an additional 360 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Hologic by 14.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,007 shares of the medical equipment provider’s stock worth $489,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI boosted their price target on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. UBS Group boosted their price target on Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and cut their price objective for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Finally, Raymond James boosted their target price on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Hologic Stock Performance

Shares of HOLX stock opened at $78.60 on Friday. 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, Inc. has a one year low of $67.59 and a one year high of $84.67. The business’s 50 day simple moving average is $80.71 and its 200 day simple moving average is $78.25. The stock has a market capitalization of $18.26 billion, a PE ratio of 23.60, a PEG ratio of 2.50 and a beta of 0.98.

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

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.