Hologic, Inc. (NASDAQ:HOLX) Short Interest Up 5.1% in October

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 5,810,000 shares, a growth of 5.1% from the September 30th total of 5,530,000 shares. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 3.9 days. Approximately 2.5% of the company’s shares are short sold.

Hologic Stock Down 0.3 %

Hologic stock opened at $80.87 on Friday. Hologic has a twelve month low of $65.55 and a twelve month high of $84.67. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $80.94 and a 200-day moving average of $77.95. The stock has a market capitalization of $18.78 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The firm 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%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, equities research analysts anticipate that Hologic will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on HOLX shares. Stephens reissued an “overweight” rating and set a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Mizuho upped their target price on shares of Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. Finally, Citigroup downgraded Hologic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Insider Buying and Selling

In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hologic

A number of hedge funds and other institutional investors have recently bought and sold shares of HOLX. Innealta Capital LLC bought a new position in shares of Hologic during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC acquired a new position in Hologic during the third quarter worth $25,000. iA Global Asset Management Inc. acquired a new position in Hologic during the first quarter worth $37,000. Sunbelt Securities Inc. bought a new position in Hologic in the second quarter valued at $37,000. Finally, Cromwell Holdings LLC lifted its position in Hologic by 330.2% during the 3rd quarter. Cromwell Holdings LLC now owns 542 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.