Analogic Corp. (ALOG) Reaches New 1-Year High After Dividend Announcement
Analogic Corp. (NASDAQ:ALOG) shares hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $94.39 and last traded at $90.68, with a volume of 218,072 shares. The stock had previously closed at $89.32.
The newly announced dividend which will be paid on Wednesday, October 12th. Investors of record on Thursday, September 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, September 28th. Analogic Corp.’s dividend payout ratio (DPR) is 35.40%.
Several research firms recently weighed in on ALOG. Brean Capital cut their price objective on Analogic Corp. from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Investment Research raised Analogic Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, TheStreet raised Analogic Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th.
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The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 80.35 and a beta of 0.95. The stock has a 50-day moving average of $88.68 and a 200 day moving average of $82.43.
Analogic Corp. (NASDAQ:ALOG) last released its quarterly earnings results on Wednesday, September 21st. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.17 by $0.15. The firm earned $138.10 million during the quarter, compared to the consensus estimate of $139.03 million. Analogic Corp. had a return on equity of 7.83% and a net margin of 2.71%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, equities research analysts anticipate that Analogic Corp. will post $3.72 earnings per share for the current year.
In related news, insider Shalabh Chandra sold 1,250 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $90.50, for a total value of $113,125.00. Following the completion of the transaction, the insider now directly owns 2,839 shares in the company, valued at $256,929.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Patrick Ryan sold 500 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $82.96, for a total transaction of $41,480.00. Following the completion of the transaction, the insider now owns 2,891 shares of the company’s stock, valued at $239,837.36. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new position in shares of Analogic Corp. during the second quarter valued at about $10,741,000. Norges Bank bought a new position in shares of Analogic Corp. during the fourth quarter valued at about $10,048,000. Neuberger Berman Group LLC raised its position in shares of Analogic Corp. by 533.9% in the second quarter. Neuberger Berman Group LLC now owns 135,758 shares of the company’s stock valued at $10,785,000 after buying an additional 114,341 shares during the period. Hillcrest Asset Management LLC bought a new position in shares of Analogic Corp. during the first quarter valued at about $7,694,000. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Analogic Corp. by 12.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 656,052 shares of the company’s stock valued at $52,116,000 after buying an additional 71,192 shares during the period. Institutional investors own 99.81% of the company’s stock.
About Analogic Corp.
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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