Congress Asset Management Co. Trims Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Congress Asset Management Co. reduced its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 98.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,279 shares of the medical equipment provider’s stock after selling 1,325,588 shares during the quarter. Congress Asset Management Co.’s holdings in Hologic were worth $1,678,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HOLX. Asset Management One Co. Ltd. increased its position in shares of Hologic by 58.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 145,028 shares of the medical equipment provider’s stock worth $10,529,000 after purchasing an additional 53,762 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Hologic by 280.3% during the fourth quarter. Empowered Funds LLC now owns 13,704 shares of the medical equipment provider’s stock valued at $988,000 after purchasing an additional 10,101 shares during the last quarter. Lecap Asset Management Ltd. increased its position in Hologic by 733.8% in the fourth quarter. Lecap Asset Management Ltd. now owns 50,461 shares of the medical equipment provider’s stock worth $3,638,000 after buying an additional 44,409 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Hologic by 3.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,388 shares of the medical equipment provider’s stock valued at $1,902,000 after buying an additional 871 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Hologic by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,170 shares of the medical equipment provider’s stock valued at $39,229,000 after acquiring an additional 15,820 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insiders Place Their Bets

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Hologic Stock Down 0.6 %

Shares of NASDAQ HOLX opened at $63.24 on Tuesday. Hologic, Inc. has a 1 year low of $62.94 and a 1 year high of $84.67. The firm has a market capitalization of $14.27 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a current ratio of 3.49, a quick ratio of 3.03 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $70.79 and its 200-day moving average is $77.05.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. Equities analysts expect that Hologic, Inc. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

HOLX has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho reduced their price objective on Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Leerink Partners cut Hologic from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $80.00 to $75.00 in a research report on Thursday, February 6th. UBS Group upped their price objective on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Hologic in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Hologic presently has an average rating of “Moderate Buy” and an average target price of $85.77.

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.