Wellington Management Co. LLP recently announced the acquisition of new stake in Hologic Inc. (NASDAQ:HOLX). The institutional investor has increased its shareholding in the Healthcare company by 80.57% to 11.6 million shares with purchase of 5.18 million shares. This fresh investment now brings its stake to 4.48% valued currently at $809.58 million. In addition, Citadel Advisors LLC raised its holdings by 2.09 million to 5.13 million shares. And Geode Capital Management LLC has lifted its position by 1.23% or 57710.0 shares – to 4.75 million shares.
With over 1.11 million Hologic Inc. (HOLX) shares trading Tuesday and a closing price of $66.11 on the day, the dollar volume was approximately $73.34 million. The shares have shown a negative weekly performance of -2.49% and its price on 08/25/20 gained nearly 1.20%. Currently, there are 259.87M common shares owned by the public and among those 257.92M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for HOLX have a consensus price objective of $77.21. The analysts have set the share’s price value over the next 12 months at a high of $84.00 and a low of $68.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Hologic Inc. stock is 1.80 for the next 12 months. The average price target is 14.95% above its last price level and an upside to the estimated low will see the stock gain 2.78% over that period. But an upside of 21.3% will see the stock hit the forecast high price target while mean target price for the stock is $78.00.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 972,735 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 780,106 shares.
The top 3 mutual fund holders in Hologic Inc. are T Rowe Price Mid Cap Growth Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. T Rowe Price Mid Cap Growth Fund owns 13.5 million shares of the company’s stock, all valued at over $942.03 million. The company bought an additional 9800.0 shares recently to bring their total holdings to about 5.21% of the shares outstanding. Vanguard Total Stock Market Index sold 36915.0 shares to see its total holdings shrink to 7.33 million shares valued at over $511.49 million and representing 2.83% of the shares outstanding. Vanguard Mid Cap Index Fund sold 48223.0 shares to bring its total holdings to over 6.34 million shares at a value of $442.23 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.
Shares of Hologic Inc. (NASDAQ: HOLX) opened at $65.65, up $0.32 from a prior closing price of $65.33. However, the script later closed the day at $66.11, up 1.20%. The company’s stock has a 5-day price change of -2.49% and 28.65% over the past three months. HOLX shares are trading 26.63% year to date (YTD), with the 12-month market performance up to 36.21% higher. It has a 12-month low price of $26.49 and touched a high of $73.63 over the same period. Currently, 1.11 million shares have been traded, compared to an average intraday trading volume of 2.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.61%, 7.33%, and 27.78% respectively.
Institutional ownership of Hologic Inc. (NASDAQ: HOLX) shares accounts for 97.50% of the company’s 259.87M shares outstanding. Mutual fund holders own 40.91%, while other institutional holders and individual stakeholders account for 56.03% and 3.26% respectively.
It has a market capitalization of $17.21B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 35.45, while the earnings-per-share (ttm) stands at $1.87. The company has a PEG of 2.29 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.94% over the week and 2.70% over the month.
Analysts forecast that Hologic Inc. (HOLX) will achieve an EPS of $1.05 for the current quarter, $1.16 for the next quarter and $4.19 for 2021. The lowest estimate earnings-per-share for the quarter is $0.99 while analysts give the company a high EPS estimate of $1.19. Comparatively, EPS for the current quarter was $0.65 a year ago. Earnings per share for the fiscal year are expected to increase by 55.70%, and 40.48% over the next financial year. EPS should grow at an annualized rate of 15.50% over the next five years, compared to -69.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Hologic Inc. (HOLX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 5 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HOLX, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on June 30, 2020, with the firm’s price target at $64. Raymond James coverage for the Hologic Inc. (HOLX) stock in a research note released on June 03, 2020 offered a Outperform rating with a price target of $62. SVB Leerink was of a view on April 30, 2020 that the stock is Outperform, while Needham gave the stock Buy rating on April 30, 2020, issuing a price target of $52- $60. Wells Fargo on their part issued Overweight rating on April 07, 2020.