Analogic (ALOG) Rating Lowered to Hold at Zacks Investment Research

Analogic (NASDAQ:ALOG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

Other research analysts have also issued research reports about the company. Jefferies Group reiterated a “hold” rating and issued a $80.00 price target on shares of Analogic in a report on Friday, December 8th. BidaskClub lowered Analogic from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.

Shares of Analogic (ALOG) traded down $0.75 during trading hours on Wednesday, reaching $82.90. The company’s stock had a trading volume of 68,129 shares, compared to its average volume of 60,606. The company has a market capitalization of $1,063.08, a price-to-earnings ratio of -14.49, a P/E/G ratio of 4.25 and a beta of 0.86. Analogic has a 1-year low of $66.00 and a 1-year high of $89.50.

Analogic (NASDAQ:ALOG) last announced its quarterly earnings results on Wednesday, December 6th. The medical research company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.32. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $100.55 million. Analogic had a positive return on equity of 5.09% and a negative net margin of 15.06%. The company’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. equities analysts predict that Analogic will post 2.86 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Analogic in the first quarter valued at approximately $101,000. Tower Research Capital LLC TRC lifted its holdings in shares of Analogic by 976.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,302 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 1,181 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Analogic by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 1,380 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 40 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Analogic by 59.0% in the first quarter. US Bancorp DE now owns 1,635 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 607 shares in the last quarter. Finally, PineBridge Investments L.P. lifted its holdings in shares of Analogic by 3.5% in the second quarter. PineBridge Investments L.P. now owns 1,570 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 98.22% 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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