M&T Bank Corp Increases Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

M&T Bank Corp boosted its position in shares of Hologic, Inc. (NASDAQ:HOLX) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,368 shares of the medical equipment provider’s stock after acquiring an additional 201 shares during the period. M&T Bank Corp’s holdings in Hologic were worth $2,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Hologic during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC bought a new stake in Hologic during the third quarter valued at $25,000. Groupama Asset Managment grew its position in Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 2,999 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Hologic in the 2nd quarter worth about $37,000. Finally, First Horizon Advisors Inc. increased its stake in Hologic by 38.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HOLX shares. Royal Bank of Canada boosted their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Leerink Partners decreased their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Evercore ISI raised their price objective on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target on Hologic from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Activity at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the sale, the chief operating officer now directly owns 27,957 shares in the company, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.75% of the stock is owned by company insiders.

Hologic Stock Performance

Shares of HOLX stock opened at $73.65 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. Hologic, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $84.67. The company has a market capitalization of $16.71 billion, a P/E ratio of 22.12, a PEG ratio of 2.38 and a beta of 0.96. The stock has a 50 day moving average price of $79.32 and a two-hundred day moving average price of $78.59.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter in the prior year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts expect that Hologic, Inc. will post 4.28 earnings per share for the current 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.