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Relational Investors Report 7.3% Position in Hologic, Inc. (HOLX)

Relational Investors fund managed by Ralph Whitworth has revealed holding 19.95 million shares of Hologic, Inc. (NASDAQ:HOLX). The stake is activist by nature and amasses 7.3% of the company’s common stock. The stake has been boosted from around 12.0 million shares, reported by Relational as being held at the end of September, according to an amendment to its 13F filing.

Hologic, Inc. (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX), has been quietly endorsed by analysts such as Needham, on the appointment of new CEO-Steve MacMillan. As the ex-chief of Stryker, MacMillan is expected to deliver on expectations. Also stepping on board with him will be two Managing Directors appointed by Carl Icahn.

Hologix, which is US-based diagnostic and surgical equipment makers for specialty imaging of women’s healthcare such as – breast health, skeletal health as well as a spectrum of gynecological issues as well.

Relational Investors increase in stake in Hologic, Inc. (NASDAQ:HOLX), is despite the downgrade, analysts at Cowen proposed. According to them, the company will not see much of revenues gaining acceleration.

Currently, other funds also hold stakes in Hologic, Inc. (NASDAQ:HOLX), aside from Relational Investors fund, which, at the end of September, held the largest position, in terms of amount of shares out of the funds we track. John A. Levin’s Levin Capital Strategies owns over 4.6 million shares, worth $94.42 million. Meanwhile Barry Rosenstein’s Jana Partners significantly boosted its position during the third quarter, currently holding 3.6 million shares, worth almost $73.53 million.

Earlier in November, Carl Icahn invested in Hologic, Inc. (NASDAQ:HOLX). Analysts could only assume that this would fast-track the value-addition the company was proposing, when Icahn has its representatives on Hologic’s, board. Analysts such as Matson viewed the move as pre-empting a complete sale of the company as well.

Disclosure: none

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