Zacks Investment Research upgraded shares of Analogic Corporation (NASDAQ:ALOG) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $93.00 price target on the medical research company’s stock.
According to Zacks, “Analogic Corporation designs, manufactures, and sells medical imaging, ultrasound, and security systems and subsystems to original equipment manufacturers (OEMs) and end users primarily for the healthcare and airport security markets. Its operates in three segments, Medical Imaging, Ultrasound, and Security and Detection. The Medical Imaging segment provides medical imaging systems and subsystems, including computed tomography (CT) detector systems, data acquisition systems, data management systems, and integrated CT gantries, and digital mammography products consisting of detector plates, as well as motion control devices for use in computer-controlled automation systems. The Ultrasound segment designs and manufactures medical ultrasound systems under the BK Ultrasound brand for use in urology, surgery, point-of-care, anesthesia, and general imaging applications. The Security and Detection segment designs and manufactures automated threat detection systems for aviation baggage inspection applications. “
Separately, Jefferies Group LLC reaffirmed a hold rating and set a $75.00 target price on shares of Analogic Corporation in a research report on Wednesday, September 20th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $85.25.
Shares of Analogic Corporation (NASDAQ ALOG) opened at 82.85 on Tuesday. Analogic Corporation has a 1-year low of $66.00 and a 1-year high of $95.85. The stock’s 50 day moving average is $77.29 and its 200-day moving average is $72.98. The stock’s market cap is $1.03 billion.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. Analogic Corporation’s dividend payout ratio (DPR) is presently -6.70%.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of Analogic Corporation during the first quarter worth approximately $1,252,000. Citadel Advisors LLC raised its stake in shares of Analogic Corporation by 88.8% in the second quarter. Citadel Advisors LLC now owns 128,879 shares of the medical research company’s stock valued at $9,363,000 after purchasing an additional 60,614 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Analogic Corporation by 8.4% in the first quarter. Geode Capital Management LLC now owns 104,722 shares of the medical research company’s stock valued at $7,947,000 after purchasing an additional 8,092 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Analogic Corporation by 470.7% in the second quarter. SG Americas Securities LLC now owns 7,619 shares of the medical research company’s stock valued at $554,000 after purchasing an additional 6,284 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new position in shares of Analogic Corporation in the second quarter valued at $11,994,000. Institutional investors own 99.06% of the company’s stock.
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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