Zacks Investment Research downgraded shares of Analogic Co. (NASDAQ:ALOG) from a buy rating to a hold rating in a research note published on Tuesday.

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. “

Separately, Jefferies Group LLC assumed coverage on shares of Analogic in a research note on Wednesday, August 9th. They issued a hold rating and a $75.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average price target of $85.25.

Shares of Analogic (NASDAQ:ALOG) opened at $83.55 on Tuesday. The company has a market cap of $1,053.71, a PE ratio of 50.24, a P/E/G ratio of 4.31 and a beta of 0.85. Analogic has a 12 month low of $66.00 and a 12 month high of $95.85.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC lifted its holdings in Analogic by 100.0% in the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the medical research company’s stock valued at $129,000 after purchasing an additional 884 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Analogic by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,469 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 1,089 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Analogic in the 3rd quarter valued at about $224,000. Piedmont Investment Advisors LLC purchased a new position in Analogic in the 3rd quarter valued at about $227,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Analogic in the 1st quarter valued at about $243,000. 96.25% of the stock is currently owned by hedge funds and other institutional investors.

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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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