Analogic Corp. (ALOG) Sees Strong Trading Volume
Shares of Analogic Corp. (NASDAQ:ALOG) saw an uptick in trading volume on Friday . 108,397 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 64,144 shares.The stock last traded at $81.57 and had previously closed at $80.61.
Several brokerages have recently issued reports on ALOG. Brean Capital restated a “buy” rating on shares of Analogic Corp. in a report on Thursday, June 2nd. Zacks Investment Research cut shares of Analogic Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. TheStreet upgraded shares of Analogic Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Finally, Sidoti began coverage on shares of Analogic Corp. in a report on Thursday, March 24th. They issued a “neutral” rating and a $81.00 target price on the stock.
The company has a market cap of $1.01 billion and a price-to-earnings ratio of 71.55. The firm’s 50 day moving average is $82.17 and its 200-day moving average is $78.30.
Analogic Corp. (NASDAQ:ALOG) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.08. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company earned $127.98 million during the quarter, compared to the consensus estimate of $127.30 million. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Analogic Corp. will post $3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Saturday, June 11th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 8th. This represents a $0.40 annualized dividend and a yield of 0.49%.
In other Analogic Corp. news, insider Shalabh Chandra sold 1,250 shares of the company’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $80.00, for a total value of $100,000.00. Following the transaction, the insider now owns 8,317 shares of the company’s stock, valued at approximately $665,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James W. Green sold 500 shares of the company’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $79.04, for a total value of $39,520.00. The disclosure for this sale can be found here.
A number of institutional investors have made changes to their positions in ALOG. 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 valued at $1,955,000 after buying an additional 1,020 shares during the period. 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 valued at $5,212,000 after buying an additional 1,900 shares during the period. 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 valued at $43,917,000 after buying an additional 76,023 shares during the period. Finally, 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 valued at $6,968,000 after buying an additional 5,969 shares during the period.
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.