Hologic, Inc. (NASDAQ:HOLX) Short Interest Update

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,610,000 shares, a growth of 8.5% from the August 15th total of 5,170,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 3.7 days.

Hologic Stock Performance

HOLX traded down $0.28 during trading on Wednesday, hitting $81.72. 1,036,732 shares of the stock were exchanged, compared to its average volume of 1,609,582. The firm has a market capitalization of $19.07 billion, a P/E ratio of 41.80, a PEG ratio of 2.53 and a beta of 0.98. Hologic has a 1-year low of $64.02 and a 1-year high of $84.67. The stock has a fifty day moving average price of $80.51 and a two-hundred day moving average price of $76.98. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Hologic (NASDAQ:HOLX) last released its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, sell-side analysts predict that Hologic will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on HOLX shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $82.00 price target on shares of Hologic in a research note on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday. StockNews.com downgraded Hologic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Evercore ISI raised their price target on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hologic currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Insider Activity at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the sale, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the sale, the director now owns 45,472 shares in the company, valued at $3,615,024. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now directly owns 10,476 shares of the company’s stock, valued at $858,927.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,280 shares of company stock worth $1,469,973. 1.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Hologic in the second quarter valued at approximately $1,212,000. Quarry LP boosted its stake in shares of Hologic by 323.7% in the second quarter. Quarry LP now owns 1,809 shares of the medical equipment provider’s stock valued at $134,000 after buying an additional 1,382 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Hologic in the second quarter valued at approximately $37,000. Creative Planning boosted its stake in shares of Hologic by 2.4% in the second quarter. Creative Planning now owns 21,813 shares of the medical equipment provider’s stock valued at $1,620,000 after buying an additional 503 shares in the last quarter. Finally, Select Equity Group L.P. boosted its stake in shares of Hologic by 87.6% in the second quarter. Select Equity Group L.P. now owns 338,020 shares of the medical equipment provider’s stock valued at $25,098,000 after buying an additional 157,835 shares in the last quarter. 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.