Guru Carl Icahn (Trades, Portfolio) reduced his position in Hologic Inc. (HOLX, Financial), slashing 3,346,767 shares from his portfolio Monday.
Hologic was incorporated in Massachusetts in October 1985 and reincorporated in March 1990. Hologic is a leading global health care and diagnostics company. It is a developer, manufacturer and supplier of medical imaging systems and diagnostic and surgical products focused on the health care needs of women. Hologic's core business segments are focused on breast health, GYN surgical and skeletal health.
The company's breast health products include a broad portfolio of breast imaging and related products and accessories, including digital and film-based mammography systems, computer-aided detection (CAD), minimally invasive breast biopsy and tissue extraction devices, breast biopsy guidance systems, breast imaging comfort pads and breast brachytherapy products.
Hologic has a market cap of $10.15 billion, an enterprise value of $13.29 billion, a P/E ratio of 54.98 and a P/B ratio of 4.70.
Hologic has four good signs, according to GuruFocus. The company’s Piotroski F-Score is high with a 7/7 rating, which indicates a healthy situation. Hologic's price is also close to a one-year low. The P/B ratio is also close to a one-year low at 4.53; the one-year low is 4.21. The P/S ratio is 3.69, which is close to the one-year low of 3.47, also a good sign.
Hologic has a financial strength rating of 6/10, according to GuruFocus, with a 0.18 cash-to-debt ratio ranking it below 87% of the companies in the Global Medical & Supplies industry. The company also has a 7/10 profitability ranking with a 17.38 operating margin percentage, ranking it above 82% of the companies in its industry.
Hologic is also traded in Germany.
It is possible that Icahn decided to reduce his position in Hologic due to the company's high research and development costs that are associated within the company’s business. Icahn has been steadily slashing shares of Hologic from his portfolio. Since March 3, Icahn has erased 9,506,082 shares Hologic from his portfolio.
Icahn is an American business magnate, investor, activist shareholder and philanthropist. He is the founder and majority shareholder of Icahn Enterprises, a diversified conglomerate holding company based in New York City. Icahn is currently the 43rd-richest person in the world, according to Forbes.com, with an estimated net worth of $17.7 billion.
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