Analogic (ALOG) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Analogic (NASDAQ:ALOG) from a hold rating to a buy rating in a research note published on Friday. They currently have $97.00 price objective on the medical research company’s stock.
According to Zacks, “Analogic Corporation is a leading designer and manufacturer of advanced health and security systems and subsystems sold primarily to Original Equipment Manufacturers (OEMs). The Company is recognized worldwide for advancing the state of the art in Automatic Explosives Detection, Computed Tomography (CT), Digital Radiography (DR), Ultrasound, Magnetic Resonance Imaging (MRI), Patient Monitoring, and Advanced Signal Processing. For over 40 years Analogic has created markets by anticipating and solving some of the world’s most complex medical and engineering challenges. Many of the largest, best-known medical imaging companies incorporate our high-performance imaging subsystems into their products. These products are used in most major healthcare facilities around the world to detect and treat disease. They provide extensive design, development, manufacturing, and test capabilities, and offer a unique combination of clinical knowledge and product design experience. “
Several other research firms have also recently commented on ALOG. BidaskClub cut Analogic from a hold rating to a sell rating in a research note on Thursday, December 7th. Jefferies Group restated a hold rating and issued a $75.00 target price on shares of Analogic in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $88.33.
Analogic (NASDAQ ALOG) opened at $84.80 on Friday. Analogic has a 1-year low of $66.00 and a 1-year high of $88.45. The firm has a market capitalization of $1,073.69, a PE ratio of 44.10, a PEG ratio of 4.30 and a beta of 0.86.
Analogic (NASDAQ:ALOG) last released its quarterly earnings data on Wednesday, December 6th. The medical research company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.32. The business had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $100.55 million. Analogic had a positive return on equity of 5.09% and a negative net margin of 15.06%. Analogic’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. equities analysts expect that Analogic will post 2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, December 14th. Analogic’s payout ratio is -6.99%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Analogic by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,147,408 shares of the medical research company’s stock valued at $83,359,000 after acquiring an additional 34,765 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Analogic by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 947,627 shares of the medical research company’s stock valued at $79,364,000 after acquiring an additional 37,066 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Analogic by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 785,205 shares of the medical research company’s stock valued at $57,045,000 after acquiring an additional 14,180 shares in the last quarter. Royce & Associates LP lifted its stake in Analogic by 2.8% in the 3rd quarter. Royce & Associates LP now owns 576,417 shares of the medical research company’s stock valued at $48,275,000 after acquiring an additional 15,469 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Analogic by 53.5% during the 2nd quarter. Northern Trust Corp now owns 372,687 shares of the medical research company’s stock worth $27,075,000 after purchasing an additional 129,855 shares in the last quarter. Hedge funds and other institutional investors own 97.82% of the company’s stock.
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Analogic Company Profile
Analogic Corporation designs, manufactures and commercializes guidance, diagnostic imaging and threat detection technologies. The Company operates through three 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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