Hologic, Inc. (NASDAQ:HOLX) Sees Significant Growth in Short Interest

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a significant 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. Currently, 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 3.6 days.

Insider Buying and Selling

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

Institutional Investors Weigh In On Hologic

Several hedge funds have recently modified their holdings of HOLX. Innealta Capital LLC purchased a new stake in shares of Hologic during the second quarter valued at $25,000. Wolff Wiese Magana LLC acquired a new position in Hologic during the third quarter valued at $25,000. iA Global Asset Management Inc. acquired a new position in Hologic during the first quarter valued at $37,000. Sunbelt Securities Inc. acquired a new position in Hologic during the second quarter valued at $37,000. Finally, Cranbrook Wealth Management LLC acquired a new position in Hologic during the second quarter valued at $47,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOLX has been the topic of a number of research reports. StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $92.00 target price on shares of Hologic in a report on Tuesday, July 30th. Mizuho raised their target price on Hologic from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Evercore ISI raised their target price on Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Hologic Stock Performance

Shares of HOLX traded up $0.28 during mid-day trading on Wednesday, hitting $81.94. The stock had a trading volume of 1,288,385 shares, compared to its average volume of 1,587,778. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The company has a market cap of $19.12 billion, a PE ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.98. 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’s fifty day simple moving average is $81.04 and its two-hundred day simple moving average is $77.67.

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

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.