Hologic, Inc. has recently caught the attention of investment firm LaFleur & Godfrey LLC, as the company raised its holdings in Hologic by 4.9% during the second quarter. This increase was disclosed in the firm’s latest Form 13F filing with the Securities & Exchange Commission. The filing revealed that LaFleur & Godfrey LLC now owns a total of 133,897 shares of Hologic’s stock after acquiring an additional 6,315 shares during this period.
Hologic is a renowned developer, manufacturer, and supplier of diagnostics products, medical imaging systems, and surgical products for women’s health across various regions including the United States, Europe, the Asia-Pacific, and internationally. The company operates through four segments which include Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.
As per LaFleur & Godfrey LLC’s latest SEC filing, Hologic constitutes around 1.6% of their overall holdings and is positioned as their 19th largest holding. Based on market value calculations mentioned in this filing report, it is estimated that LaFleur & Godfrey LLC owns approximately 0.05% of Hologic with a total worth of $10,842,000.
This recent development suggests that Hologic has garnered significant attention from investors like LaFleur & Godfrey LLC due to its notable performance in the industry. With a focus on women’s health and early detection and treatment methods, Hologic has solidified its position within the market.
It is important to note that this news should not be interpreted as financial advice or evidence of future performance but serves instead as an indication of investor sentiment regarding Hologic at this given time.
Investors who are interested in staying up-to-date with news related to Hologic may want to explore research reports and filings provided by reputable financial institutions like LaFleur & Godfrey LLC or refer to timely updates offered by news outlets and financial websites that cover market developments.
In conclusion, Hologic’s recent increase in holdings by LaFleur & Godfrey LLC highlights the company’s potential as an investment opportunity. As the firm continues to develop and supply innovative products for women’s health, it will be interesting to observe how its stock performs in the coming months.
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Updated on: 09/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Hedge Funds and Institutional Investors Show Interest in Hologic Inc. as Analysts Assess Performance
In recent months, several hedge funds and institutional investors have been buying and selling shares of medical equipment provider Hologic Inc. GPS Wealth Strategies Group LLC acquired a new position in the company during the first quarter with an estimated value of $28,000. Similarly, Sageworth Trust Co purchased a stake worth approximately $34,000 in the same period.
One of the most notable increases in ownership came from Nelson Van Denburg & Campbell Wealth Management Group LLC, which boosted its stake by a staggering 595.4% during the second quarter. The firm now owns 452 shares valued at $37,000, having purchased an additional 387 shares in the last quarter. Salem Investment Counselors Inc. also saw significant growth in its stake, raising it by 163.9% to reach a total of 549 shares valued at $38,000.
Furthermore, Clear Street Markets LLC increased its stake in Hologic by 91.3% during the first quarter to own 484 shares worth $39,000. These figures highlight considerable interest from institutional investors who now possess approximately 92.64% of the company’s stock.
Several analysts have recently reviewed Hologic’s performance and offered ratings and price targets based on their evaluations. Morgan Stanley reaffirmed an “equal weight” rating and set a price target of $86.00 on August 1st. Bank of America also adjusted their price target from $94.00 to $86.00 while maintaining a “neutral” rating on August 1st.
Royal Bank of Canada reduced their price target to $85.00 from $87.00 and issued a “sector perform” rating on August 1st as well. On August 18th, StockNews.com initiated coverage on Hologic with a “buy” rating.
Raymond James followed suit by lowering their price objective to $95.00 from $100.00 but still maintained an “outperform” rating on August 1st. According to Bloomberg.com, Hologic currently holds an average rating of “Moderate Buy” with an average price target of $88.92, based on data from multiple analysts.
On Friday, the company’s shares opened at $69.40. Hologic’s stock has fluctuated between a 52-week low of $59.78 and a 52-week high of $87.88. The company boasts a debt-to-equity ratio of 0.54, a quick ratio of 3.73, and a current ratio of 4.42.
Furthermore, its 50-day moving average price stands at $74.60, while the two-hundred-day moving average price is $78.69. With a market capitalization of $17 billion and a PE ratio of 35.96, Hologic’s beta comes in at 1.01.
To analyze Hologic’s recent financial performance, their quarterly earnings results from July provide valuable insight. The medical equipment provider surpassed analyst expectations by reporting earnings per share (EPS) of $0.93 for the quarter compared to the consensus estimate of $0.89, representing an EPS beat by $0.04.
Hologic disclosed that it achieved a return on equity (ROE) of 19.02% and a net margin of 11.99%. Revenue for the quarter stood at $984 million against analyst estimates of $960 million—a slight decrease of 1.8% compared to the same period last year wherein earnings per share were recorded as $0.95.
Equities analysts predict that Hologic will post an EPS figure amounting to approximately 3.92 for the current year based on these financial developments.
In summary, Hologic Inc., which specializes in medical equipment, has seen notable activity from hedge funds and institutional investors who have been actively buying and selling shares in recent months. Analysts have assessed the company’s performance, resulting in a range of ratings and price targets. Hologic’s financial results for the second quarter were generally positive, with the firm surpassing EPS estimates and maintaining solid profitability despite a slight decrease in revenue compared to the previous year.