Mesirow Financial Investment Management Inc. has decreased its stake in Hologic, Inc. (NASDAQ: HOLX) by 12.2% during the second quarter of 2023. The institutional investor now holds 5,722 shares of the medical equipment provider, down from 6,516 shares after selling 794 shares during this period. At the end of the most recent reporting, Mesirow’s holdings in Hologic were valued at approximately $373,000.
Several other institutional investors have also made adjustments to their positions in Hologic. Greenleaf Trust increased its stake by 5.1%, now owning 3,579 shares worth $233,000 after acquiring an additional 173 shares. Beverly Hills Private Wealth LLC raised its holdings by 3.6%, bringing its total to 5,173 shares valued at $320,000 after purchasing 180 additional shares. Allworth Financial LP significantly boosted its stake by 46.0% in the first quarter, now holding 686 shares worth $40,000.
First American Bank and Oppenheimer Asset Management Inc. also increased their stakes in Hologic by 0.9% and 1.7%, respectively, in the second quarter. First American Bank now owns 28,705 shares valued at $1.87 million, while Oppenheimer has 14,788 shares worth $964,000. Overall, institutional investors currently own 94.73% of Hologic’s stock.
Insider Trading Activity
In related news, Hologic’s CEO, Stephen P. Macmillan, sold 138,358 shares on September 22, 2023, at an average price of $66.97. This transaction totaled approximately $9.27 million, reducing his ownership by 10.08%. Following the sale, he retains 1,234,624 shares valued at around $82.68 million.
Additionally, director Christiana Stamoulis sold 7,402 shares on October 20, 2023, for a total of $540,864. After this trade, she holds 47,336 shares worth about $3.46 million, reflecting a 13.52% decrease in her ownership.
Currently, insiders own 1.88% of Hologic’s shares.
Recent Financial Performance
Hologic reported its quarterly earnings on July 30, 2023, revealing earnings per share (EPS) of $1.08, surpassing analysts’ expectations of $1.05. The company achieved a net margin of 13.79% and a return on equity of 19.69%. Revenue for the quarter reached $1.02 billion, slightly above the anticipated $1.01 billion. This figure represents a 1.2% increase compared to the previous year’s results.
Equities research analysts predict an EPS of $4.28 for Hologic for the current fiscal year.
Analysts have varied opinions on Hologic’s stock performance. The Royal Bank of Canada upgraded its rating from “sector perform” to “outperform,” increasing the price target from $72.00 to $87.00. Conversely, Wall Street Zen downgraded Hologic from a “buy” to a “hold” rating. Other firms, including JPMorgan Chase & Co. and Weiss Ratings, have maintained their ratings of “neutral” and “hold,” respectively.
Overall, analysts have a consensus rating of “Hold” for Hologic, with an average target price of $79.23.
Hologic, Inc. specializes in developing, manufacturing, and supplying diagnostic products, medical imaging systems, and surgical products primarily for women’s health. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. Its offerings include various molecular diagnostic assays and systems aimed at enhancing patient care through early detection and treatment.
For investors interested in the latest updates and analysis on Hologic, additional information is available through credible financial news outlets.
