Short Interest in Hologic, Inc. (NASDAQ:HOLX) Drops By 25.0%

Hologic, Inc. (NASDAQ:HOLX) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 4,440,000 shares, a decline of 25.0% from the February 13th total of 5,920,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 2,420,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC cut Hologic from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Monday, February 3rd. Wolfe Research began coverage on Hologic in a research note on Friday, December 13th. They set a “peer perform” rating on the stock. Leerink Partners downgraded shares of Hologic from an “outperform” rating to a “market perform” rating and cut their target price for the company from $80.00 to $75.00 in a research note on Thursday, February 6th. Citigroup decreased their price target 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. Finally, Raymond James reissued an “outperform” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Hologic in a research report on Thursday, February 6th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hologic currently has an average rating of “Hold” and an average target price of $84.62.

Hologic Price Performance

HOLX stock opened at $60.71 on Friday. The stock has a 50-day moving average price of $67.18 and a two-hundred day moving average price of $74.68. The company has a market cap of $13.62 billion, a PE ratio of 19.15, a price-to-earnings-growth 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. Hologic has a 12-month low of $60.33 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. Hologic had a net margin of 18.42% and a return on equity of 19.72%. As a group, research analysts predict that Hologic will post 4.28 EPS for the current year.

Hedge Funds Weigh In On Hologic

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Hologic by 0.8% during the third 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. Geode Capital Management LLC lifted its holdings in Hologic by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,732,131 shares of the medical equipment provider’s stock worth $412,159,000 after buying an additional 144,838 shares in the last quarter. FMR LLC boosted its position 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 last quarter. Victory Capital Management Inc. increased its position in shares of Hologic by 0.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,917,551 shares of the medical equipment provider’s stock worth $354,506,000 after acquiring an additional 24,358 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Hologic by 3.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,403,220 shares of the medical equipment provider’s stock worth $322,272,000 after acquiring an additional 129,035 shares in the last quarter. Hedge funds and other institutional investors 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.