Analogic Corp. (ALOG) Sees Large Volume Increase
Analogic Corp. (NASDAQ:ALOG) saw unusually-high trading volume on Monday . Approximately 76,825 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 66,388 shares.The stock last traded at $81.99 and had previously closed at $82.22.
ALOG has been the subject of a number of research reports. Zacks Investment Research lowered shares of Analogic Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Sidoti initiated coverage on shares of Analogic Corp. in a research note on Thursday, March 24th. They issued a “neutral” rating and a $81.00 price objective for the company. TheStreet raised shares of Analogic Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Finally, Brean Capital reaffirmed a “buy” rating on shares of Analogic Corp. in a research note on Thursday, June 2nd.
The stock has a market capitalization of $1.02 billion and a price-to-earnings ratio of 72.49. The company has a 50-day moving average price of $82.20 and a 200 day moving average price of $78.18.
Analogic Corp. (NASDAQ:ALOG) last issued its earnings results on Wednesday, June 1st. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by $0.08. The business earned $127.98 million during the quarter, compared to analyst estimates of $127.30 million. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Analysts predict that Analogic Corp. will post $3.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Saturday, June 11th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, June 8th.
In related news, CEO James W. Green sold 500 shares of the firm’s stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $79.04, for a total transaction of $39,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shalabh Chandra sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $80.00, for a total value of $100,000.00. Following the sale, the insider now directly owns 7,067 shares of the company’s stock, valued at $565,360. The disclosure for this sale can be found here.
Other hedge funds have modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Analogic Corp. by 16.7% in the fourth quarter. Wells Fargo & Company MN now owns 531,694 shares of the company’s stock worth $43,917,000 after buying an additional 76,023 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Analogic Corp. by 7.6% in the fourth quarter. Principal Financial Group Inc. now owns 84,357 shares of the company’s stock worth $6,968,000 after buying an additional 5,969 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Analogic Corp. by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 63,100 shares of the company’s stock worth $5,212,000 after buying an additional 1,900 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Analogic Corp. by 4.5% in the fourth quarter. Rhumbline Advisers now owns 23,667 shares of the company’s stock worth $1,955,000 after buying an additional 1,020 shares during the last quarter.
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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