Heartland Advisors Inc. Buys New Stake in Analogic Corporation (ALOG)
Heartland Advisors Inc. bought a new position in shares of Analogic Corporation (NASDAQ:ALOG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 165,089 shares of the medical research company’s stock, valued at approximately $11,994,000. Heartland Advisors Inc. owned about 1.32% of Analogic Corporation at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Karp Capital Management Corp bought a new position in shares of Analogic Corporation during the first quarter worth about $235,000. UBS Asset Management Americas Inc. bought a new position in shares of Analogic Corporation during the first quarter worth about $243,000. Comerica Bank boosted its position in shares of Analogic Corporation by 8.6% in the first quarter. Comerica Bank now owns 105,026 shares of the medical research company’s stock worth $7,630,000 after buying an additional 8,360 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Analogic Corporation by 104.9% in the first quarter. Bank of New York Mellon Corp now owns 368,958 shares of the medical research company’s stock worth $28,004,000 after buying an additional 188,891 shares during the period. Finally, US Bancorp DE boosted its position in shares of Analogic Corporation by 59.0% in the first quarter. US Bancorp DE now owns 1,635 shares of the medical research company’s stock worth $124,000 after buying an additional 607 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.
Analogic Corporation (NASDAQ ALOG) traded up 0.56% during mid-day trading on Thursday, hitting $71.50. 1,549 shares of the stock were exchanged. The company’s 50-day moving average price is $70.56 and its 200 day moving average price is $73.10. Analogic Corporation has a 52 week low of $66.00 and a 52 week high of $95.85. The firm’s market capitalization is $891.61 million.
Analogic Corporation (NASDAQ:ALOG) last announced its quarterly earnings results on Tuesday, June 6th. The medical research company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Analogic Corporation had a negative net margin of 7.97% and a positive return on equity of 6.75%. The business had revenue of $122.16 million during the quarter, compared to analysts’ expectations of $121.35 million. During the same period last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts expect that Analogic Corporation will post $2.60 EPS for the current year.
Separately, Jefferies Group LLC began coverage on Analogic Corporation in a research note on Wednesday, August 9th. They set a “hold” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $87.00.
About Analogic Corporation
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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