Short Interest in Haemonetics Co. (NYSE:HAE) Rises By 30.4%

Haemonetics Co. (NYSE:HAE) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 3,260,000 shares, a growth of 30.4% from the May 15th total of 2,500,000 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average trading volume of 536,400 shares, the days-to-cover ratio is currently 6.1 days.

Insider Activity at Haemonetics

In related news, insider Stewart W. Strong sold 733 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total value of $70,397.32. Following the transaction, the insider now directly owns 15,608 shares of the company’s stock, valued at approximately $1,498,992.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Stewart W. Strong sold 733 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $96.04, for a total value of $70,397.32. Following the transaction, the insider now directly owns 15,608 shares of the company’s stock, valued at approximately $1,498,992.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anila Lingamneni sold 2,305 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $95.00, for a total value of $218,975.00. Following the completion of the transaction, the executive vice president now directly owns 12,295 shares in the company, valued at $1,168,025. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,380 shares of company stock valued at $2,445,816. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP increased its stake in Haemonetics by 27.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after buying an additional 152,098 shares in the last quarter. Isthmus Partners LLC purchased a new stake in Haemonetics in the 4th quarter worth $1,530,000. Vanguard Group Inc. increased its stake in Haemonetics by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,380,858 shares of the medical instruments supplier’s stock worth $482,017,000 after buying an additional 27,146 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Haemonetics in the 4th quarter worth $888,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Haemonetics during the fourth quarter valued at about $2,039,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Trading Down 1.6 %

NYSE:HAE opened at $84.66 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.37. Haemonetics has a one year low of $70.74 and a one year high of $97.97. The business has a fifty day moving average price of $88.98 and a 200-day moving average price of $83.61.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. The firm had revenue of $343.00 million during the quarter, compared to analyst estimates of $329.53 million. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. Haemonetics’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. Sell-side analysts forecast that Haemonetics will post 4.57 EPS for the current year.

Analyst Upgrades and Downgrades

HAE has been the topic of several research analyst reports. Barrington Research increased their price target on Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, May 10th. TheStreet cut Haemonetics from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. JMP Securities increased their price target on Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 10th. Finally, Needham & Company LLC raised Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.