Envestnet Asset Management Inc. cut its holdings in shares of Analogic Co. (NASDAQ:ALOG) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,661 shares of the medical research company’s stock after selling 2,472 shares during the period. Envestnet Asset Management Inc.’s holdings in Analogic were worth $475,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Analogic by 2.8% during the fourth quarter. BlackRock Inc. now owns 1,656,666 shares of the medical research company’s stock worth $138,746,000 after purchasing an additional 44,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Analogic by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 947,627 shares of the medical research company’s stock worth $79,364,000 after purchasing an additional 37,066 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Analogic by 9.5% during the third quarter. Neuberger Berman Group LLC now owns 336,517 shares of the medical research company’s stock worth $28,183,000 after purchasing an additional 29,109 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Analogic by 31.8% during the fourth quarter. Renaissance Technologies LLC now owns 252,854 shares of the medical research company’s stock worth $21,177,000 after purchasing an additional 61,006 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Analogic by 30.3% during the fourth quarter. Geode Capital Management LLC now owns 152,036 shares of the medical research company’s stock worth $12,732,000 after purchasing an additional 35,311 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.
Several equities research analysts have weighed in on ALOG shares. Zacks Investment Research cut Analogic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine cut Analogic from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. BidaskClub upgraded Analogic from a “strong sell” rating to a “sell” rating in a research note on Friday, March 30th. Finally, TheStreet upgraded Analogic from a “c+” rating to a “b-” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $94.00.
Analogic (NASDAQ:ALOG) last announced its quarterly earnings results on Monday, March 5th. The medical research company reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.58. Analogic had a positive return on equity of 6.05% and a negative net margin of 15.34%. The company had revenue of $129.20 million during the quarter, compared to analysts’ expectations of $112.50 million. During the same period in the prior year, the company earned $0.99 EPS. Analogic’s revenue was down 1.7% compared to the same quarter last year. sell-side analysts predict that Analogic Co. will post 4.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Thursday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, March 14th. Analogic’s payout ratio is 23.26%.
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Analogic Corporation designs, manufactures, and sells medical imaging systems, ultrasound and security systems, and subsystems to original equipment manufacturers (OEMs) and end users primarily for the medical and airport security markets worldwide. It operates in three segments: Medical Imaging, Ultrasound, and Security and Detection.
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