Stocks: Hologic, Inc. (HOLX) Shares Gap Down After Insider Selling

Stocks: Hologic, Inc. (HOLX) Shares Gap Down  After Insider Selling

Hologic, Inc. (NASDAQ:HOLX) shares gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $44.20, but opened at $43.62. Hologic shares last traded at $42.76, with a volume of 2,826,463 shares traded.

Specifically, Director Sally Crawford sold 17,396 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $42.00, for a total value of $730,632.00. Following the completion of the sale, the director now owns 152,305 shares in the company, valued at $6,396,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence M. Levy sold 9,837 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $45.34, for a total value of $446,009.58. Following the completion of the sale, the director now owns 40,577 shares of the company’s stock, valued at approximately $1,839,761.18. The disclosure for this sale can be found here. Insiders sold 95,476 shares of company stock valued at $4,146,707 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently commented on HOLX shares. Needham & Company LLC upgraded Hologic from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, February 15th. Jefferies Group LLC restated a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of Hologic in a report on Monday, March 13th. BTIG Research restated a “buy” rating and issued a $47.00 price target on shares of Hologic in a report on Sunday, February 5th. Canaccord Genuity set a $48.00 price target on Hologic and gave the stock a “buy” rating in a report on Monday, January 23rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $48.00 price target on shares of Hologic in a report on Wednesday, January 18th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Hologic has a consensus rating of “Buy” and an average target price of $47.54.

The firm has a 50-day moving average of $43.51 and a 200-day moving average of $40.58. The stock has a market capitalization of $11.98 billion, a P/E ratio of 15.33 and a beta of 1.10.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Wednesday, May 10th. The medical equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $715.40 million during the quarter, compared to analyst estimates of $685.24 million. Hologic had a return on equity of 27.17% and a net margin of 11.57%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. Equities analysts anticipate that Hologic, Inc. will post $2.00 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Hologic by 418.5% in the first quarter. Victory Capital Management Inc. now owns 4,050,824 shares of the medical equipment provider’s stock worth $172,363,000 after buying an additional 3,269,503 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hologic by 229.4% in the first quarter. American Century Companies Inc. now owns 3,164,928 shares of the medical equipment provider’s stock worth $134,668,000 after buying an additional 2,204,085 shares in the last quarter. Norges Bank bought a new stake in shares of Hologic during the fourth quarter worth approximately $83,300,000. Alyeska Investment Group L.P. raised its stake in shares of Hologic by 1,631.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,875,534 shares of the medical equipment provider’s stock worth $75,246,000 after buying an additional 1,767,240 shares in the last quarter. Finally, Investec Asset Management LTD bought a new stake in shares of Hologic during the fourth quarter worth approximately $68,258,000. 94.09% of the stock is owned by hedge funds and other institutional investors.

About Hologic

Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.

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