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

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 7,260,000 shares, a growth of 35.7% from the April 30th total of 5,350,000 shares. Based on an average daily trading volume, of 3,380,000 shares, the short-interest ratio is presently 2.1 days. Currently, 3.3% of the company's stock are sold short.

Insider Activity at Hologic

In other news, Director Martin D. Madaus acquired 5,445 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $55.24 per share, for a total transaction of $300,781.80. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% 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 added to or reduced their stakes in HOLX. Principal Financial Group Inc. grew its stake in Hologic by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 271,152 shares of the medical equipment provider's stock valued at $19,547,000 after buying an additional 1,606 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Hologic by 63.4% during the fourth quarter. Groupama Asset Managment now owns 54,214 shares of the medical equipment provider's stock valued at $3,918,000 after purchasing an additional 21,037 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Hologic during the 4th quarter worth approximately $4,215,000. Signaturefd LLC boosted its holdings in Hologic by 34.5% during the fourth quarter. Signaturefd LLC now owns 2,940 shares of the medical equipment provider's stock worth $212,000 after buying an additional 754 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in shares of Hologic by 85.5% in the 4th quarter. Brevan Howard Capital Management LP now owns 19,436 shares of the medical equipment provider's stock valued at $1,401,000 after buying an additional 8,960 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HOLX shares. Royal Bank of Canada reduced their price target on shares of Hologic from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Citigroup lowered their price objective on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Raymond James reissued an "outperform" rating and issued a $71.00 target price (down previously from $90.00) on shares of Hologic in a report on Friday, May 2nd. Argus lowered Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Leerink Partners downgraded Hologic from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $80.00 to $75.00 in a research report on Thursday, February 6th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.42.

Hologic Stock Performance

HOLX traded down $0.47 during trading on Wednesday, reaching $62.57. 2,491,059 shares of the company were exchanged, compared to its average volume of 2,283,385. Hologic has a 52 week low of $51.90 and a 52 week high of $84.67. The stock has a market cap of $13.94 billion, a P/E ratio of 19.74, a PEG ratio of 2.14 and a beta of 0.54. The firm has a 50 day moving average of $58.19 and a 200 day moving average of $65.65. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, sell-side analysts forecast that Hologic will post 4.28 EPS for the current fiscal year.

Hologic Company Profile

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.