Jefferies Group LLC Initiates Coverage on Analogic Corporation (ALOG)
Equities researchers at Jefferies Group LLC began coverage on shares of Analogic Corporation (NASDAQ:ALOG) in a research note issued on Wednesday. The brokerage set a “hold” rating on the medical research company’s stock.
Shares of Analogic Corporation (NASDAQ ALOG) opened at 70.65 on Wednesday. The firm’s market cap is $881.01 million. Analogic Corporation has a 52-week low of $66.00 and a 52-week high of $95.85. The company has a 50 day moving average price of $70.57 and a 200-day moving average price of $73.85.
Analogic Corporation (NASDAQ:ALOG) last posted its quarterly earnings data on Tuesday, June 6th. The medical research company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The firm had revenue of $122.16 million during the quarter, compared to analyst estimates of $121.35 million. Analogic Corporation had a negative net margin of 7.97% and a positive return on equity of 6.75%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, analysts expect that Analogic Corporation will post $2.62 earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of ALOG. BlackRock Inc. raised its stake in shares of Analogic Corporation by 54,561.6% in the first quarter. BlackRock Inc. now owns 1,601,037 shares of the medical research company’s stock valued at $121,518,000 after buying an additional 1,598,108 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 valued at $28,004,000 after buying an additional 188,891 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of Analogic Corporation during the second quarter valued at about $11,994,000. Norges Bank bought a new stake in shares of Analogic Corporation during the fourth quarter valued at about $8,170,000. Finally, Wells Fargo & Company MN raised its stake in shares of Analogic Corporation by 14.5% in the first quarter. Wells Fargo & Company MN now owns 771,025 shares of the medical research company’s stock valued at $58,521,000 after buying an additional 97,657 shares during the last quarter.
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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