Short Interest in Hologic, Inc. (NASDAQ:HOLX) Increases By 34.0%

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 6,150,000 shares, an increase of 34.0% from the November 15th total of 4,590,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is currently 3.9 days. Approximately 2.8% of the company’s stock are sold short.

Analyst Ratings Changes

HOLX has been the topic of several research reports. Wolfe Research began coverage on Hologic in a research report on Friday. They issued a “peer perform” rating on the stock. Royal Bank of Canada increased their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Mizuho decreased their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. UBS Group raised their price target on shares of Hologic from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Raymond James upped their price objective on shares of Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Buying and Selling

In other news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the transaction, the chief operating officer now directly owns 27,957 shares in the company, valued at $2,134,237.38. The trade was a 47.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On Hologic

A number of institutional investors have recently added to or reduced their stakes in HOLX. Innealta Capital LLC acquired a new position in shares of Hologic in the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC acquired a new position in Hologic during the third quarter worth $25,000. Groupama Asset Managment lifted its holdings in shares of Hologic by 9.9% during the third quarter. Groupama Asset Managment now owns 33,177 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 2,999 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Hologic in the 2nd quarter worth about $37,000. Finally, First Horizon Advisors Inc. increased its position in shares of Hologic by 38.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 484 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Hologic Stock Performance

HOLX stock traded down $1.44 on Friday, reaching $73.65. 2,553,425 shares of the company were exchanged, compared to its average volume of 1,626,827. The firm has a market capitalization of $16.71 billion, a PE ratio of 22.12, a PEG ratio of 2.38 and a beta of 0.96. Hologic has a 12 month low of $70.24 and a 12 month high of $84.67. The stock’s fifty day moving average price is $79.32 and its 200 day moving average price is $78.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $978.25 million. Hologic had a return on equity of 19.79% and a net margin of 19.59%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. On average, research analysts anticipate that Hologic will post 4.28 EPS for the current fiscal year.

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.