MassMutual Private Wealth & Trust FSB significantly increased its investment in Hologic, Inc. during the second quarter of 2023, as detailed in a recent filing with the Securities and Exchange Commission (SEC). The institutional investor raised its stake by an impressive 80.0%, acquiring an additional 782 shares. Following this purchase, MassMutual holds a total of 1,760 shares valued at approximately $115,000.
Other institutional investors have also adjusted their holdings in Hologic, indicating a trend of growing interest in the medical technology firm. For instance, Zions Bancorporation National Association entered a new position in Hologic valued at around $34,000 in the first quarter. Similarly, Allworth Financial LP increased its stake by 46.0%, owning 686 shares worth about $40,000. Notably, Larson Financial Group LLC expanded its holdings dramatically by 6,016.7%, now owning 734 shares valued at $45,000 after acquiring an additional 722 shares. Collectively, institutional investors and hedge funds control 94.73% of Hologic’s stock.
Stock Performance and Earnings Report
As of the latest trading session, Hologic’s stock opened at $66.33, reflecting a 2.8% decline. Over the past year, the stock has fluctuated between a low of $51.90 and a high of $84.39. The company boasts a market capitalization of $14.75 billion and has exhibited strong fundamentals, including a P/E ratio of 27.52 and a debt-to-equity ratio of 0.52.
Hologic recently reported its earnings for the quarter ending July 30, 2023. The company delivered earnings per share of $1.08, surpassing analysts’ expectations of $1.05 by $0.03. The firm generated revenue of $1.02 billion, slightly exceeding predictions of $1.01 billion. Year-over-year revenue growth stood at 1.2%, with the previous year’s earnings per share recorded at $1.06. For the upcoming quarters, Hologic has set guidance for Q4 2025 at an earnings per share range of $1.090-$1.120 and full-year guidance for FY 2025 at $4.230-$4.260. Analysts forecast an average earnings per share of $4.28 for the current fiscal year.
Analysts’ Ratings and Future Outlook
Market analysts have recently updated their ratings for Hologic shares. Wall Street Zen downgraded Hologic from a “buy” to a “hold” rating on September 15, 2023. Conversely, Morgan Stanley raised its price target from $65.00 to $69.00, maintaining an “equal weight” rating. Additionally, Citigroup upgraded Hologic from “neutral” to “buy,” increasing its price target from $60.00 to $80.00. The Royal Bank of Canada also revised its assessment, raising its target from $72.00 to $87.00. Overall, analysts assign a consensus rating of “Moderate Buy” for Hologic, with an average price target of $79.38.
Hologic, headquartered in the United States, specializes in the development, manufacturing, and supply of diagnostic products, imaging systems, and surgical products aimed at women’s health. The company operates across four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health, positioning itself as a leader in early detection and treatment technologies.
As institutional interest continues to rise and analysts provide a positive outlook, Hologic remains a key player in the medical equipment sector, potentially yielding substantial returns for its investors.
