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

Eagle Ridge Investment Management cut its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 0.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 206,047 shares of the medical equipment provider’s stock after selling 1,323 shares during the quarter. Hologic comprises 1.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 24th biggest position. Eagle Ridge Investment Management’s holdings in Hologic were worth $9,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC increased its holdings in shares of Hologic by 3,466.7% during the 2nd quarter. CWM LLC now owns 535 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 520 shares in the last quarter. Horan Capital Advisors LLC. purchased a new position in shares of Hologic during the 1st quarter valued at approximately $33,000. First Interstate Bank purchased a new position in shares of Hologic during the 1st quarter valued at approximately $40,000. Quadrant Capital Group LLC increased its holdings in Hologic by 1,363.2% in the 1st quarter. Quadrant Capital Group LLC now owns 995 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 927 shares in the last quarter. Finally, SevenBridge Financial Group LLC increased its holdings in Hologic by 172.0% in the 2nd quarter. SevenBridge Financial Group LLC now owns 1,205 shares of the medical equipment provider’s stock worth $58,000 after acquiring an additional 762 shares in the last quarter. 96.43% of the stock is owned by institutional investors.

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

HOLX traded up $0.72 on Thursday, hitting $49.82. 424,439 shares of the company’s stock were exchanged, compared to its average volume of 1,697,424. Hologic, Inc. has a fifty-two week low of $37.47 and a fifty-two week high of $52.19. 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 firm’s 50-day simple moving average is $48.79. The company has a market capitalization of $13.25 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.25 and a beta of 0.74.

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

Several brokerages recently commented on HOLX. Canaccord Genuity reissued a “hold” rating and issued a $52.00 price target on shares of Hologic in a report on Thursday, August 1st. Argus boosted their price target on shares of Hologic to $62.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research reissued a “buy” rating and issued a $52.00 price target on shares of Hologic in a report on Thursday, August 1st. BidaskClub raised shares of Hologic from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Stifel Nicolaus boosted their price target on shares of Hologic from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.95.

About Hologic

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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