Short Interest in Hologic, Inc. (NASDAQ:HOLX) Expands By 8.5%

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 5,610,000 shares, an increase of 8.5% from the August 15th total of 5,170,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 3.7 days.

Insider Activity at Hologic

In related news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now directly owns 45,472 shares in the company, valued at $3,615,024. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at $92,755,443.06. The disclosure for this sale can be found here. Insiders have sold a total of 18,280 shares of company stock worth $1,469,973 over the last three months. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

Large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Hologic in the 2nd quarter worth about $25,000. iA Global Asset Management Inc. purchased a new position in shares of Hologic in the 1st quarter worth about $37,000. Sunbelt Securities Inc. purchased a new position in shares of Hologic in the 2nd quarter worth about $37,000. Cranbrook Wealth Management LLC purchased a new position in shares of Hologic in the 2nd quarter worth about $47,000. Finally, Mather Group LLC. purchased a new position in shares of Hologic in the 1st quarter worth about $48,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Hologic Trading Down 0.3 %

Hologic stock traded down $0.28 during trading on Wednesday, hitting $81.72. The company’s stock had a trading volume of 1,036,732 shares, compared to its average volume of 1,609,582. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 2.53 and a beta of 0.98. The stock’s fifty day moving average is $80.51 and its 200 day moving average is $76.98. Hologic has a 1-year low of $64.02 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts predict that Hologic will post 4.09 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on HOLX shares. Evercore ISI upped their price objective on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.60.

About Hologic

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.