Analogic Corp. (ALOG) Sees Large Volume Increase
Analogic Corp. (NASDAQ:ALOG) saw strong trading volume on Monday . 76,825 shares changed 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.
A number of equities analysts have weighed in on the company. TheStreet upgraded Analogic Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Brean Capital reiterated a “buy” rating on shares of Analogic Corp. in a research note on Thursday, June 2nd. Zacks Investment Research lowered Analogic Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Sidoti assumed coverage on Analogic Corp. in a research note on Thursday, March 24th. They set a “neutral” rating and a $81.00 price objective for the company.
The firm’s 50-day moving average price is $82.18 and its 200-day moving average price is $78.20. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 72.45.
Analogic Corp. (NASDAQ:ALOG) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by $0.08. During the same quarter in the prior year, the company earned $1.07 earnings per share. The firm earned $127.98 million during the quarter, compared to analyst estimates of $127.30 million. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts expect that Analogic Corp. will post $3.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Saturday, June 11th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%.
In related news, CEO James W. Green sold 500 shares of the business’s stock in a transaction on Friday, April 22nd. The shares were 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 is available at this hyperlink. Also, insider Shalabh Chandra sold 1,250 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $81.82, for a total transaction of $102,275.00. Following the transaction, the insider now owns 4,567 shares of the company’s stock, valued at approximately $373,671.94. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position 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 position 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 position 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 position 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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