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

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

Hologic Trading Up 0.8%

Shares of Hologic stock traded up $0.51 during trading hours on Friday, reaching $64.48. The stock had a trading volume of 5,518,837 shares, compared to its average volume of 2,343,319. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.34 and a beta of 0.55. Hologic has a 1 year low of $51.90 and a 1 year high of $84.67. The company has a current ratio of 3.24, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $59.16 and a two-hundred day simple moving average of $64.54.

Hologic (NASDAQ:HOLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.02 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 13.83% and a return on equity of 19.71%. Hologic's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, equities research analysts anticipate that Hologic will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HOLX. Stephens cut their price target on shares of Hologic from $77.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Argus downgraded Hologic from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Citigroup decreased their price objective on shares of Hologic from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Wall Street Zen cut Hologic from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Royal Bank Of Canada cut their price objective on Hologic from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Twelve research 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $77.42.

Insider Activity

In related news, Director Martin D. Madaus purchased 5,445 shares of the business's stock in a transaction dated 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 purchase, the director now directly owns 5,445 shares of the company's stock, valued at $300,781.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.88% of the company's stock.

Hedge Funds Weigh In On Hologic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Hologic in the fourth quarter valued at about $133,414,000. Victory Capital Management Inc. raised its holdings in shares of Hologic by 34.4% during the 1st quarter. Victory Capital Management Inc. now owns 6,609,728 shares of the medical equipment provider's stock valued at $408,283,000 after buying an additional 1,692,177 shares during the period. Boston Partners raised its holdings in shares of Hologic by 81.0% during the 4th quarter. Boston Partners now owns 3,580,519 shares of the medical equipment provider's stock valued at $257,959,000 after buying an additional 1,602,463 shares during the period. Champlain Investment Partners LLC acquired a new position in Hologic during the 4th quarter worth approximately $79,291,000. Finally, Nuance Investments LLC boosted its holdings in Hologic by 623.7% in the 1st quarter. Nuance Investments LLC now owns 1,081,333 shares of the medical equipment provider's stock worth $66,794,000 after acquiring an additional 931,920 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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.