Short Interest in Hologic, Inc. (NASDAQ:HOLX) Declines By 29.6%

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 5,110,000 shares, a drop of 29.6% from the May 15th total of 7,260,000 shares. Based on an average daily trading volume, of 3,620,000 shares, the short-interest ratio is currently 1.4 days. Approximately 2.3% of the shares of the company are short sold.

Hologic Trading Up 0.7%

Shares of HOLX opened at $65.18 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.14 and a beta of 0.55. The stock has a fifty day moving average price of $58.84 and a two-hundred day moving average price of $64.65. Hologic has a 52-week low of $51.90 and a 52-week high of $84.67.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on HOLX shares. Morgan Stanley lowered their price target on shares of Hologic from $77.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Stephens decreased their target price on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada dropped their price target on shares of Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Argus cut shares of Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Citigroup decreased their price objective on Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Hologic currently has an average rating of "Hold" and an average target price of $77.42.

Insider Activity at Hologic

In other news, Director Martin D. Madaus purchased 5,445 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $55.24 per share, with a total value of $300,781.80. Following the acquisition, the director now directly owns 5,445 shares in the company, valued at approximately $300,781.80. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.88% of the stock is owned by corporate insiders.

Institutional Trading of Hologic

Hedge funds have recently modified their holdings of the stock. Inspire Investing LLC lifted its holdings in Hologic by 41.5% during the 1st quarter. Inspire Investing LLC now owns 5,075 shares of the medical equipment provider's stock worth $313,000 after buying an additional 1,488 shares in the last quarter. Strs Ohio acquired a new position in shares of Hologic during the first quarter valued at $12,910,000. IFM Investors Pty Ltd boosted its holdings in Hologic by 5.8% in the first quarter. IFM Investors Pty Ltd now owns 52,969 shares of the medical equipment provider's stock valued at $3,272,000 after acquiring an additional 2,884 shares during the last quarter. Woodline Partners LP boosted its holdings in Hologic by 2.4% in the first quarter. Woodline Partners LP now owns 147,485 shares of the medical equipment provider's stock valued at $9,110,000 after acquiring an additional 3,413 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Hologic by 27.7% during the 1st quarter. Empowered Funds LLC now owns 17,494 shares of the medical equipment provider's stock worth $1,081,000 after purchasing an additional 3,790 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

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.

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