Hologic, Inc. (NASDAQ:HOLX) Sees Significant Drop in Short Interest
by Michael Walen · The Markets DailyHologic, Inc. (NASDAQ:HOLX – Get Free Report) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 4,440,000 shares, a decline of 25.0% from the February 13th total of 5,920,000 shares. Based on an average trading volume of 2,420,000 shares, the short-interest ratio is presently 1.8 days. Currently, 2.0% of the shares of the stock are short sold.
Analyst Ratings Changes
A number of equities analysts have recently commented on HOLX shares. Leerink Partners cut Hologic from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $80.00 to $75.00 in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 target price for the company. Raymond James reiterated an “outperform” rating and issued a $90.00 target price (down from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Leerink Partnrs downgraded Hologic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Argus downgraded Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.62.
Read Our Latest Stock Analysis on Hologic
Hologic Stock Performance
Hologic stock traded up $1.11 during mid-day trading on Monday, reaching $61.82. 2,623,431 shares of the company’s stock were exchanged, compared to its average volume of 1,704,709. The business’s fifty day simple moving average is $67.18 and its 200 day simple moving average is $74.64. The firm has a market capitalization of $13.87 billion, a PE ratio of 19.50, a P/E/G ratio of 2.14 and a beta of 0.97. Hologic has a one year low of $59.57 and a one year high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52.
Hologic (NASDAQ:HOLX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. On average, sell-side analysts expect that Hologic will post 4.28 earnings per share for the current year.
Hedge Funds Weigh In On Hologic
Hedge funds have recently made changes to their positions in the stock. General Partner Inc. purchased a new position in shares of Hologic in the fourth quarter valued at $26,000. Groupama Asset Managment grew its position in Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 2,999 shares in the last quarter. Venturi Wealth Management LLC grew its position in Hologic by 156.3% during the fourth quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares in the last quarter. First Horizon Advisors Inc. grew its position in Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 260 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.
Hologic Company Profile
Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.