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

Hologic, Inc. (NASDAQ:HOLX - Get Free Report) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 6,150,000 shares, a growth of 34.0% from the November 15th total of 4,590,000 shares. Based on an average daily volume of 1,590,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 2.8% of the company's shares are sold short.

Insider Transactions at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the firm'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 completion of the sale, the chief operating officer now directly owns 27,957 shares of the company's stock, valued at approximately $2,134,237.38. This trade represents a 47.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.75% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HOLX. State Street Corp grew its holdings in shares of Hologic by 0.8% during the 3rd quarter. State Street Corp now owns 10,409,327 shares of the medical equipment provider's stock worth $847,944,000 after purchasing an additional 81,057 shares in the last quarter. FMR LLC increased its holdings in Hologic by 64.0% in the 3rd quarter. FMR LLC now owns 5,572,545 shares of the medical equipment provider's stock valued at $453,940,000 after buying an additional 2,174,093 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Hologic by 0.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,554,032 shares of the medical equipment provider's stock valued at $208,051,000 after buying an additional 18,774 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Hologic by 8.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,466,888 shares of the medical equipment provider's stock valued at $200,952,000 after buying an additional 195,285 shares in the last quarter. Finally, Black Creek Investment Management Inc. boosted its position in shares of Hologic by 60.9% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider's stock valued at $173,669,000 after acquiring an additional 885,524 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Leerink Partners cut their price objective on Hologic from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada upped their price target on Hologic from $86.00 to $89.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 5th. Citigroup downgraded shares of Hologic from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $95.00 to $85.00 in a report on Tuesday, October 1st. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Hologic in a report on Tuesday. Finally, StockNews.com raised shares of Hologic from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Hologic has an average rating of "Moderate Buy" and an average price target of $89.50.

Hologic Stock Down 1.9 %

Shares of Hologic stock traded down $1.44 on Friday, hitting $73.65. 2,553,424 shares of the company traded hands, compared to its average volume of 1,626,827. The company has a quick ratio of 3.03, a current ratio of 3.69 and a debt-to-equity ratio of 0.49. Hologic has a 12-month low of $70.24 and a 12-month high of $84.67. The company has a 50-day moving average price of $79.32 and a 200 day moving average price of $78.56. The company has a market cap of $16.71 billion, a PE ratio of 22.12, a PEG ratio of 2.38 and a beta of 0.96.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The medical equipment provider reported $1.01 earnings per share 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 net margin of 19.59% and a return on equity of 19.79%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Sell-side 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.

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