Cranbrook Wealth Management LLC Purchases Shares of 627 Hologic, Inc. (NASDAQ:HOLX)

Cranbrook Wealth Management LLC acquired a new position in Hologic, Inc. (NASDAQ:HOLX) during the 2nd quarter, Holdings Channel reports. The firm acquired 627 shares of the medical equipment provider’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOLX. Innealta Capital LLC purchased a new stake in Hologic during the second quarter valued at approximately $25,000. iA Global Asset Management Inc. purchased a new stake in shares of Hologic in the 1st quarter worth $37,000. Mather Group LLC. bought a new position in Hologic in the 1st quarter worth $48,000. Massmutual Trust Co. FSB ADV lifted its position in Hologic by 24.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 137 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in Hologic by 81.1% during the first quarter. Toth Financial Advisory Corp now owns 775 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HOLX shares. Evercore ISI lifted their price objective on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Stephens reiterated an “overweight” rating and issued a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a research note on Tuesday. Finally, StockNews.com upgraded Hologic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Activity at Hologic

In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.11, for a total transaction of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares in the company, valued at $310,415.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now directly owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandon Schnittker sold 476 shares of Hologic stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,280 shares of company stock valued at $1,469,973. 1.75% of the stock is owned by corporate insiders.

Hologic Stock Performance

Shares of NASDAQ HOLX opened at $82.70 on Tuesday. The company has a market cap of $19.30 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.53 and a beta of 0.98. 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 firm’s fifty day moving average is $80.36 and its two-hundred day moving average is $76.92.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Hologic, Inc. will post 4.09 EPS for the current fiscal year.

About Hologic

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.