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4. Hologic, Inc. (NASDAQ:HOLX)

Number of Hedge Fund Investors: 41

Revenue Growth Rate (year-over-year): -17.12%

Hologic, Inc. is an innovative medical technology company that is largely concerned with enhancing women’s health and well-being through early identification and care. HOLX is a market leader in women’s health, with a range of products that have established the gold standard of care.

As the tailwinds caused by the pandemic fade, Hologic, Inc. (NASDAQ:HOLX) has experienced difficulties in 2024. Nonetheless, the company is a desirable investment due to its impressive track record and healthy financial performance. Hologic anticipates organic revenues to expand by 5-7% despite pandemic-related tailwinds ending in 2024, which might result in value expansion. Moreover, the company expects profits per share in 2024 to range from $3.90 to $4.10, a slight increase from $3.96 in 2023.

It is anticipated that Hologic’s recent $310 million acquisition of Endomagnetics, a provider of technologies for breast cancer surgery, will break even by 2025 and become profitable after that. Its primary objectives are still expansion and increasing shareholder value.

ClearBridge Sustainability Leaders Strategy made the following comment about Hologic, Inc. (NASDAQ:HOLX) in its Q3 2023 investor letter:

“We continue to be active in positioning our holdings in the health care sector, in the quarter initiating a new position in Hologic, Inc. (NASDAQ:HOLX), a medical technology company focused on women’s health with leading positions in medical diagnostics, medical imaging systems and surgical devices. The company has used profits generated during the pandemic to diversify the business and increase recurring revenues, as well as return capital to shareholders. We believe Hologic is well-positioned to drive stable growth and improve profitability going forward and has a very strong balance sheet to fund future growth initiatives. Hologic’s products help detect cancer as well as a variety of infectious diseases, including COVID-19, thus improving health care outcomes for patients.”

Analysts hold a consensus Buy rating on the stock. In the first quarter of 2024, 41 hedge funds held stakes in Hologic, Inc. (NASDAQ:HOLX). The company’s top shareholder was Bailard Inc., with 16,484 shares worth $1.22 million.