Hologic, Inc. (NASDAQ:HOLX) Sees Large Increase in Short Interest

Hologic, Inc. (NASDAQ:HOLX) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 5,870,000 shares, an increase of 32.2% from the February 28th total of 4,440,000 shares. Based on an average daily trading volume, of 2,540,000 shares, the short-interest ratio is presently 2.3 days. Approximately 2.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus lowered shares of Hologic from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Leerink Partnrs lowered shares of Hologic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Evercore ISI decreased 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. Needham & Company LLC downgraded Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Monday, February 3rd. Finally, Wolfe Research initiated coverage on Hologic in a research report on Friday, December 13th. They set a “peer perform” rating for the company. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Hologic presently has a consensus rating of “Hold” and a consensus target price of $84.62.

Institutional Trading of Hologic

Several institutional investors and hedge funds have recently modified their holdings of HOLX. Townsquare Capital LLC lifted its stake in Hologic by 8.7% in the 3rd quarter. Townsquare Capital LLC now owns 34,321 shares of the medical equipment provider’s stock valued at $2,796,000 after buying an additional 2,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Hologic by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,971,617 shares of the medical equipment provider’s stock valued at $160,608,000 after acquiring an additional 16,057 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Hologic by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 9,959 shares of the medical equipment provider’s stock valued at $811,000 after acquiring an additional 1,200 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Hologic during the 3rd quarter worth about $2,223,000. Finally, Paloma Partners Management Co purchased a new stake in Hologic during the 3rd quarter worth about $582,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Hologic Price Performance

Shares of NASDAQ:HOLX traded down $0.70 during trading on Wednesday, hitting $60.68. 790,401 shares of the stock were exchanged, compared to its average volume of 1,809,172. The company has a market cap of $13.62 billion, a PE ratio of 19.14, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a current ratio of 3.49, a quick ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $64.90 and a two-hundred day moving average price of $72.97. Hologic has a 12-month low of $60.04 and a 12-month high of $84.67.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.01. Hologic had a return on equity of 19.72% and a net margin of 18.42%. On average, analysts forecast that Hologic will post 4.28 EPS for the current 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.