Cranbrook Wealth Management LLC Makes New Investment in Hologic, Inc. (NASDAQ:HOLX)

Cranbrook Wealth Management LLC purchased a new stake in shares of Hologic, Inc. (NASDAQ:HOLX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 627 shares of the medical equipment provider’s stock, valued at approximately $47,000.

Other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock worth $54,000 after purchasing an additional 137 shares during the period. Graypoint LLC lifted its stake in shares of Hologic by 3.9% in the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 147 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Hologic by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,215 shares of the medical equipment provider’s stock valued at $536,000 after acquiring an additional 165 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Hologic by 11.5% during the 4th quarter. Parallel Advisors LLC now owns 1,828 shares of the medical equipment provider’s stock valued at $131,000 after acquiring an additional 189 shares during the period. Finally, Brown Advisory Inc. grew its position in Hologic by 0.3% during the 4th quarter. Brown Advisory Inc. now owns 74,438 shares of the medical equipment provider’s stock worth $5,319,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Trading Up 1.9 %

Shares of NASDAQ HOLX opened at $82.70 on Tuesday. The firm’s 50 day moving average price is $80.36 and its 200-day moving average price is $76.92. Hologic, Inc. has a 52-week low of $64.02 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. The company has a market cap of $19.30 billion, a PE ratio of 42.19, a P/E/G ratio of 2.53 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. On average, equities research analysts expect that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

Insider Activity at Hologic

In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at $92,755,443.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The disclosure for this sale can be found here. Insiders have sold 18,280 shares of company stock valued at $1,469,973 over the last ninety days. Insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HOLX. Royal Bank of Canada reiterated a “sector perform” rating and set a $82.00 price target on shares of Hologic in a report on Friday, August 16th. StockNews.com upgraded shares of Hologic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Hologic in a report on Tuesday. Stephens reiterated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. Finally, Evercore ISI lifted their price objective on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.60.

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.