Hologic, Inc. (NASDAQ:HOLX) Short Interest Up 35.7% in May

Hologic, Inc. (NASDAQ:HOLX) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 7,260,000 shares, an increase of 35.7% from the April 30th total of 5,350,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average trading volume of 3,380,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Buying and Selling at Hologic

In other news, Director Martin D. Madaus acquired 5,445 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $55.24 per share, with a total value 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 represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Trading of Hologic

Several hedge funds have recently added to or reduced their stakes in HOLX. Venturi Wealth Management LLC lifted its position in shares of Hologic by 156.3% during the 4th quarter. Venturi Wealth Management LLC now owns 428 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 261 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Hologic in the first quarter worth approximately $34,000. Allworth Financial LP grew its holdings in shares of Hologic by 46.0% during the first quarter. Allworth Financial LP now owns 686 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 216 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Hologic by 79.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 586 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 260 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Hologic during the first quarter worth about $42,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Hologic Stock Performance

Shares of NASDAQ HOLX opened at $63.04 on Wednesday. The business’s 50 day moving average is $58.16 and its two-hundred day moving average is $65.67. Hologic has a 12 month low of $51.90 and a 12 month high of $84.67. The company has a quick ratio of 2.78, a current ratio of 3.49 and a debt-to-equity ratio of 0.52. The company has a market cap of $14.05 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.14 and a beta of 0.54.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 1st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 18.42% and a return on equity of 19.72%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. On average, equities analysts expect that Hologic will post 4.28 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Hologic from $77.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada reduced their target price 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. Citigroup reduced their target price on shares of Hologic from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Argus downgraded shares of Hologic from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Wall Street Zen lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Hologic has a consensus rating of “Hold” and an average price target of $77.42.

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.