Resona Asset Management Co. Ltd. Sells 7,770 Shares of Hologic, Inc. $HOLX

Resona Asset Management Co. Ltd. cut its stake in Hologic, Inc. (NASDAQ:HOLX) by 6.5% during the third quarter, HoldingsChannel reports. The fund owned 112,395 shares of the medical equipment provider’s stock after selling 7,770 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Hologic were worth $7,581,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Hologic by 294.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,022,455 shares of the medical equipment provider’s stock worth $718,223,000 after buying an additional 8,227,318 shares during the last quarter. Invesco Ltd. grew its stake in Hologic by 72.5% during the 2nd quarter. Invesco Ltd. now owns 8,340,785 shares of the medical equipment provider’s stock worth $543,486,000 after buying an additional 3,505,828 shares during the last quarter. Norges Bank purchased a new stake in Hologic in the second quarter valued at about $180,055,000. Allspring Global Investments Holdings LLC boosted its holdings in Hologic by 473.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,701,820 shares of the medical equipment provider’s stock worth $111,180,000 after acquiring an additional 1,405,085 shares in the last quarter. Finally, Black Creek Investment Management Inc. grew its stake in shares of 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. Institutional investors own 94.73% of the company’s stock.

Hologic Stock Up 0.2%

Shares of HOLX stock opened at $75.19 on Tuesday. The company has a current ratio of 3.75, a quick ratio of 3.06 and a debt-to-equity ratio of 0.50. Hologic, Inc. has a twelve month low of $51.90 and a twelve month high of $75.34. The stock has a 50 day moving average of $74.82 and a 200 day moving average of $70.66. The stock has a market cap of $16.76 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.13 and a beta of 0.69.

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

Analyst Ratings Changes

A number of research firms have issued reports on HOLX. Argus cut shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Morgan Stanley raised their price objective on Hologic from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $78.00 target price on shares of Hologic in a report on Wednesday, October 22nd. Evercore ISI lowered Hologic from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $79.00 to $78.00 in a research report on Monday, January 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Hologic in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.31.

Hologic 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.