Eagle Ridge Investment Management Trims Stake in Hologic, Inc. (NASDAQ:HOLX)

Eagle Ridge Investment Management lowered its position in Hologic, Inc. (NASDAQ:HOLX) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,047 shares of the medical equipment provider’s stock after selling 1,323 shares during the quarter. Hologic comprises about 1.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 24th largest position. Eagle Ridge Investment Management owned 0.08% of Hologic worth $9,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in HOLX. FMR LLC raised its stake in shares of Hologic by 419.2% in the first quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock valued at $641,996,000 after acquiring an additional 10,709,693 shares during the period. Janus Henderson Group PLC raised its stake in shares of Hologic by 1,210.3% in the first quarter. Janus Henderson Group PLC now owns 916,994 shares of the medical equipment provider’s stock valued at $44,382,000 after acquiring an additional 847,011 shares during the period. Bank of Montreal Can raised its stake in shares of Hologic by 230.9% in the first quarter. Bank of Montreal Can now owns 1,089,553 shares of the medical equipment provider’s stock valued at $52,734,000 after acquiring an additional 760,312 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Hologic by 105.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 544,200 shares of the medical equipment provider’s stock valued at $26,339,000 after acquiring an additional 279,350 shares during the period. Finally, Exane Asset Management purchased a new stake in shares of Hologic in the first quarter valued at $10,639,000. 96.43% of the stock is currently owned by institutional investors and hedge funds.

In other Hologic news, Chairman Stephen P. Macmillan sold 194,396 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $48.77, for a total transaction of $9,480,692.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter J. Valenti III sold 4,545 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $44.07, for a total transaction of $200,298.15. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Several research analysts recently commented on the stock. Argus raised their price target on shares of Hologic to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $52.00 price target on shares of Hologic in a research note on Thursday, August 1st. TheStreet raised shares of Hologic from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies raised their price target on shares of Hologic from $49.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of Hologic from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.95.

NASDAQ HOLX traded up $0.72 during trading on Thursday, reaching $49.82. 424,439 shares of the company’s stock traded hands, compared to its average volume of 1,697,424. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.11 and a current ratio of 1.57. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.25 and a beta of 0.74. The company has a 50 day simple moving average of $48.79. Hologic, Inc. has a 12-month low of $37.47 and a 12-month high of $52.19.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, July 31st. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $852.40 million for the quarter, compared to the consensus estimate of $836.91 million. Hologic had a negative net margin of 0.89% and a positive return on equity of 27.95%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. As a group, analysts predict that Hologic, Inc. will post 2.44 earnings per share for the current year.

Hologic Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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Institutional Ownership by Quarter for Hologic (NASDAQ:HOLX)

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