Hologic, Inc. (NASDAQ:HOLX) Short Interest Update

Hologic, Inc. (NASDAQ:HOLX) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 5,510,000 shares, an increase of 6.4% from the December 15th total of 5,180,000 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Leerink Partners lowered their price objective 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. Raymond James lifted their price target on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Mizuho cut their price objective on Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. BNP Paribas raised Hologic to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hologic has a consensus rating of “Moderate Buy” and an average price target of $88.92.

Hologic Stock Performance

HOLX opened at $69.73 on Tuesday. The firm has a fifty day moving average price of $74.65 and a 200 day moving average price of $78.38. Hologic has a 1 year low of $68.61 and a 1 year high of $84.67. The stock has a market cap of $15.82 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. Hologic had a net margin of 19.59% and a return on equity of 19.79%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $978.25 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Essex D. Mitchell sold 24,856 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total value of $1,897,507.04. Following the completion of the transaction, the chief operating officer now directly owns 27,957 shares of the company’s stock, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Institutional investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC acquired a new position in shares of Hologic during the 3rd quarter worth approximately $25,000. General Partner Inc. acquired a new position in Hologic during the fourth quarter worth $26,000. Groupama Asset Managment lifted its holdings in Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 2,999 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Hologic in the second quarter valued at about $37,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Hologic by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.