Hologic, Inc. (NASDAQ:HOLX) Sees Large Drop in Short Interest

Hologic, Inc. (NASDAQ:HOLX) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 7,100,246 shares, a decrease of 14.5% from the February 26th total of 8,301,510 shares. Based on an average daily volume of 2,957,823 shares, the short-interest ratio is currently 2.4 days. Currently, 3.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore cut Hologic from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $79.00 to $78.00 in a report on Monday, January 5th. Argus cut Hologic from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hologic in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.42.

Hologic Trading Up 0.0%

Shares of NASDAQ:HOLX traded up $0.03 during mid-day trading on Tuesday, hitting $75.58. The stock had a trading volume of 848,966 shares, compared to its average volume of 2,766,976. The company’s 50 day moving average is $75.24 and its 200-day moving average is $73.41. Hologic has a 12-month low of $51.90 and a 12-month high of $75.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.32 and a current ratio of 4.04. The company has a market cap of $16.87 billion, a PE ratio of 31.49, a P/E/G ratio of 2.25 and a beta of 0.73.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.05). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Hologic had a return on equity of 19.58% and a net margin of 13.18%.The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts predict that Hologic will post 4.28 EPS for the current year.

Institutional Investors Weigh In On Hologic

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Hologic by 10.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,776 shares of the medical equipment provider’s stock worth $2,395,000 after purchasing an additional 3,520 shares during the period. Empowered Funds LLC boosted its stake in shares of Hologic by 27.7% during the 1st quarter. Empowered Funds LLC now owns 17,494 shares of the medical equipment provider’s stock valued at $1,081,000 after buying an additional 3,790 shares during the period. MAI Capital Management boosted its stake in shares of Hologic by 121.4% during the 2nd quarter. MAI Capital Management now owns 651 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 357 shares during the period. XTX Topco Ltd grew its holdings in shares of Hologic by 11.4% during the 2nd quarter. XTX Topco Ltd now owns 14,505 shares of the medical equipment provider’s stock valued at $945,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Hologic by 180.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,487 shares of the medical equipment provider’s stock valued at $488,000 after acquiring an additional 4,816 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Hologic Company Profile

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.