Short Interest in Hologic, Inc. (NASDAQ:HOLX) Expands By 6.8%

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 5,530,000 shares, a growth of 6.8% from the September 15th total of 5,180,000 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,530,000 shares, the short-interest ratio is currently 3.6 days.

Hologic Trading Down 1.8 %

Shares of NASDAQ HOLX opened at $80.47 on Friday. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. Hologic has a 12 month low of $64.02 and a 12 month high of $84.67. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 41.06, a P/E/G ratio of 2.89 and a beta of 0.98. The business has a fifty day simple moving average of $80.98 and a 200-day simple moving average of $77.69.

Hologic (NASDAQ:HOLX) last issued its 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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. Hologic’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Sell-side analysts predict that Hologic will post 4.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Brandon Schnittker sold 476 shares of Hologic stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total transaction of $39,560.36. Following the sale, the insider now directly owns 3,735 shares of the company’s stock, valued at approximately $310,415.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hologic news, insider Benjamin Jordan Cohn sold 5,093 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the transaction, the insider now owns 10,476 shares of the company’s stock, valued at $858,927.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandon Schnittker sold 476 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the sale, the insider now directly owns 3,735 shares in the company, valued at approximately $310,415.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by insiders.

Institutional Trading of Hologic

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in shares of Hologic in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC acquired a new position in shares of Hologic during the 3rd quarter worth $25,000. iA Global Asset Management Inc. bought a new position in shares of Hologic during the 1st quarter valued at $37,000. Sunbelt Securities Inc. acquired a new stake in shares of Hologic in the 2nd quarter valued at $37,000. Finally, Cranbrook Wealth Management LLC bought a new stake in Hologic in the second quarter worth $47,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOLX has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup lowered shares of Hologic from a “buy” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $85.00 in a research report on Tuesday, October 1st. Evercore ISI boosted their price target on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 1st. Leerink Partners reduced their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Mizuho raised their price objective on shares of Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

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.