Rakuten Investment Management Inc. Purchases New Stake in Hologic, Inc. $HOLX

Rakuten Investment Management Inc. purchased a new stake in shares of Hologic, Inc. (NASDAQ:HOLX) in the 3rd quarter, Holdings Channel reports. The fund purchased 8,772 shares of the medical equipment provider’s stock, valued at approximately $592,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Hologic by 294.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock valued at $718,223,000 after purchasing an additional 8,227,318 shares during the period. Invesco Ltd. grew its stake in Hologic by 72.5% in the 2nd quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock valued at $543,486,000 after buying an additional 3,505,828 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hologic by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,828,325 shares of the medical equipment provider’s stock valued at $378,209,000 after acquiring an additional 97,142 shares during the period. Black Creek Investment Management Inc. lifted its position in Hologic by 26.1% during the second quarter. Black Creek Investment Management Inc. now owns 4,027,829 shares of the medical equipment provider’s stock worth $262,453,000 after acquiring an additional 832,444 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Hologic by 2.2% during the second quarter. Bank of America Corp DE now owns 3,090,306 shares of the medical equipment provider’s stock worth $201,364,000 after acquiring an additional 66,453 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Price Performance

HOLX stock opened at $75.05 on Friday. The company’s 50-day moving average price is $74.80 and its two-hundred day moving average price is $70.56. The firm has a market cap of $16.73 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.13 and a beta of 0.69. The company has a quick ratio of 3.06, a current ratio of 3.75 and a debt-to-equity ratio of 0.50. Hologic, Inc. has a 12 month low of $51.90 and a 12 month high of $75.34.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, November 3rd. The medical equipment provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Hologic had a net margin of 13.80% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, analysts anticipate that Hologic, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HOLX shares. Leerink Partners increased their target price on Hologic from $70.00 to $78.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Morgan Stanley upped their price objective on Hologic from $69.00 to $76.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Stephens cut Hologic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.31.

Hologic Company Profile

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.