American Century Companies Inc. has significantly increased its investment in Hologic, Inc. (NASDAQ: HOLX), raising its stake by 23.3% during the second quarter of 2023. This move was disclosed in the company’s latest filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 312,011 shares, American Century now holds 1,651,994 shares of the medical equipment provider, representing 0.74% of Hologic and valued at approximately $107.6 million.
Several other institutional investors have also adjusted their positions in Hologic recently. For example, in the first quarter of 2023, the United Services Automobile Association purchased shares worth $347,000. Additionally, K.J. Harrison & Partners Inc. acquired a stake valued at around $1.99 million during the second quarter. Other notable transactions include Aberdeen Group plc increasing its holdings by 2.8%, now owning 244,997 shares valued at $15.96 million, and Nordea Investment Management AB growing its position by 7.2% to 2,587,414 shares, worth $168.67 million. Currently, institutional investors own 94.73% of Hologic’s stock.
Recent Trading Activity and Company Performance
Hologic’s stock opened at $74.88 on Wednesday, reflecting a slight increase of 0.2%. The company’s shares have fluctuated between a fifty-two week low of $51.90 and a high of $80.31. Hologic’s financial metrics indicate a solid foundation, with a market capitalization of $16.69 billion, a debt-to-equity ratio of 0.52, and a current ratio of 3.55.
In its latest quarterly earnings report released on November 3, 2023, Hologic reported earnings per share (EPS) of $1.13, surpassing analysts’ expectations of $1.10 by $0.03. The company achieved a revenue of $1.05 billion, which was higher than the anticipated $1.03 billion and represented a 6.2% increase compared to the same quarter last year.
Insider Transactions and Analyst Ratings
In related news, insider selling activity has been notable. On October 20, 2023, Director Christiana Stamoulis sold 7,402 shares at an average price of $73.07, totaling approximately $540,864. Following this transaction, Stamoulis holds 47,336 shares valued at about $3.46 million. Similarly, CEO Stephen P. Macmillan sold 138,358 shares on September 22, 2023, for around $9.27 million, reducing his ownership by 10.08%.
Analysts have varied opinions on Hologic, with a mix of upgrades and downgrades in recent reports. On October 22, 2023, Stephens downgraded Hologic from an “overweight” to an “equal weight” rating and adjusted its price target from $78.00 to $76.00. Conversely, UBS Group raised its target price from $65.00 to $70.00, maintaining a “neutral” rating. Overall, five analysts have rated the stock as a Buy, while fifteen have assigned it a Hold rating, resulting in an average rating of “Hold” with a consensus target price of $79.67, according to data from MarketBeat.com.
Hologic, Inc. continues to be a key player in women’s health, specializing in diagnostics, medical imaging systems, and surgical products. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health, providing a range of products designed for early detection and treatment. As market dynamics evolve, Hologic’s strategic investments and insider activities will be pivotal in shaping its future trajectory.
