Analogic Corp. (NASDAQ:ALOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Analogic Corporation conceives, designs, manufactures, and sells standard and customized high-precision data acquisition, signal and imaging processing based medical imaging and industrial systems and subsystems. Analogic’s principal customers are original equipment manufacturers who incorporate Analogic’s state-of-the-art products into systems used in medical, industrial and scientific applications. “
ALOG has been the topic of several other reports. Brean Capital restated a “buy” rating and set a $100.00 price target (up from $90.00) on shares of Analogic Corp. in a report on Thursday, September 22nd. TheStreet upgraded shares of Analogic Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th.
Analogic Corp. (NASDAQ:ALOG) traded up 0.53% during trading on Tuesday, reaching $91.37. The company had a trading volume of 125,120 shares. Analogic Corp. has a 12-month low of $68.71 and a 12-month high of $94.39. The firm has a 50-day moving average price of $89.18 and a 200 day moving average price of $82.80. The stock has a market cap of $1.13 billion, a P/E ratio of 95.18 and a beta of 0.95.
Analogic Corp. (NASDAQ:ALOG) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.17 by $0.15. Analogic Corp. had a net margin of 2.71% and a return on equity of 7.83%. The company had revenue of $138.10 million for the quarter, compared to analysts’ expectations of $139.03 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue was down 10.6% on a year-over-year basis. Equities research analysts predict that Analogic Corp. will post $4.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Thursday, September 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, September 28th. Analogic Corp.’s payout ratio is presently 41.24%.
In related news, insider James Patrick Ryan sold 500 shares of Analogic Corp. stock in a transaction on Friday, July 15th. The shares were sold at an average price of $82.96, for a total value of $41,480.00. Following the completion of the sale, the insider now owns 2,891 shares of the company’s stock, valued at approximately $239,837.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shalabh Chandra sold 2,650 shares of Analogic Corp. stock in a transaction on Monday, August 29th. The shares were sold at an average price of $90.00, for a total transaction of $238,500.00. Following the completion of the sale, the insider now directly owns 5,967 shares of the company’s stock, valued at approximately $537,030. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. raised its position in Analogic Corp. by 3.5% in the second quarter. PineBridge Investments L.P. now owns 1,570 shares of the company’s stock worth $125,000 after buying an additional 53 shares in the last quarter. Profund Advisors LLC raised its position in Analogic Corp. by 2.5% in the second quarter. Profund Advisors LLC now owns 2,748 shares of the company’s stock worth $218,000 after buying an additional 68 shares in the last quarter. Arizona State Retirement System raised its position in Analogic Corp. by 1.6% in the second quarter. Arizona State Retirement System now owns 6,461 shares of the company’s stock worth $513,000 after buying an additional 100 shares in the last quarter. BlackRock Advisors LLC raised its position in Analogic Corp. by 3.4% in the second quarter. BlackRock Advisors LLC now owns 5,972 shares of the company’s stock worth $474,000 after buying an additional 194 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Analogic Corp. by 0.9% in the second quarter. Nationwide Fund Advisors now owns 22,567 shares of the company’s stock worth $1,793,000 after buying an additional 200 shares in the last quarter. 99.81% of the stock is owned by institutional investors and hedge funds.
Analogic Corp. Company Profile
Analogic Corporation designs, manufactures and commercializes guidance, diagnostic imaging and threat detection technologies to advance the practice of medicine and save lives. The Company operates through three business segments: Medical Imaging, Ultrasound, and Security and Detection. The Company’s Medical Imaging segment provides medical imaging systems and subsystems for computed tomography (CT), magnetic resonance imaging (MRI) and high-resolution digital mammography.
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