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

Hologic, Inc. (NASDAQ:HOLX) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 4,440,000 shares, a decline of 25.0% from the February 13th total of 5,920,000 shares. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is presently 1.8 days. Currently, 2.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Hologic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Hologic by 64.0% in the third quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider’s stock valued at $453,940,000 after purchasing an additional 2,174,093 shares in the last quarter. Norges Bank purchased a new position in Hologic during the 4th quarter valued at about $133,414,000. Boston Partners increased its position in shares of Hologic by 81.0% during the fourth 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 purchased a new stake in shares of Hologic in the fourth quarter worth about $79,291,000. Finally, Northern Trust Corp boosted its position in shares of Hologic by 26.9% in the fourth quarter. Northern Trust Corp now owns 3,147,420 shares of the medical equipment provider’s stock valued at $226,898,000 after acquiring an additional 668,086 shares during the period. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup decreased their price target on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Jefferies Financial Group began coverage on shares of Hologic in a research report on Tuesday, December 10th. They issued a “hold” rating and a $85.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $84.00 price target on shares of Hologic in a report on Thursday, February 6th. Evercore ISI reduced their target price on shares of Hologic from $76.00 to $73.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, BNP Paribas raised shares of Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Hologic has an average rating of “Hold” and an average price target of $84.62.

Hologic Stock Up 1.8 %

HOLX stock opened at $61.82 on Tuesday. The stock has a fifty day moving average of $66.94 and a 200-day moving average of $74.51. Hologic has a fifty-two week low of $59.55 and a fifty-two week high of $84.67. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.78 and a current ratio of 3.49.

Hologic (NASDAQ:HOLX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. As a group, equities research analysts predict that Hologic will post 4.28 earnings per share for the current 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.