Haemonetics Co. (NYSE:HAE) Short Interest Up 7.4% in December

Haemonetics Co. (NYSE:HAE) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 4,910,000 shares, a growth of 7.4% from the November 30th total of 4,570,000 shares. Currently, 9.9% of the shares of the company are sold short. Based on an average daily volume of 592,200 shares, the days-to-cover ratio is currently 8.3 days.

Wall Street Analysts Forecast Growth

HAE has been the subject of several analyst reports. Barrington Research reissued an “outperform” rating and set a $108.00 price target on shares of Haemonetics in a report on Wednesday, December 4th. JPMorgan Chase & Co. initiated coverage on shares of Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price for the company. CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They issued a “buy” rating and a $116.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $112.00 target price on shares of Haemonetics in a report on Tuesday, December 3rd. Finally, Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Haemonetics currently has an average rating of “Moderate Buy” and a consensus target price of $108.78.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAE. Quarry LP bought a new position in shares of Haemonetics in the second quarter worth about $39,000. Daiwa Securities Group Inc. bought a new position in Haemonetics in the 2nd quarter worth approximately $82,000. Canada Pension Plan Investment Board acquired a new position in shares of Haemonetics during the second quarter worth approximately $83,000. Nisa Investment Advisors LLC boosted its position in shares of Haemonetics by 124.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Haemonetics in the second quarter worth $140,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Trading Up 1.9 %

Shares of NYSE HAE opened at $78.08 on Thursday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.26 and a beta of 0.38. The business has a 50 day simple moving average of $81.79 and a 200 day simple moving average of $80.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics has a 52 week low of $70.25 and a 52 week high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. Haemonetics’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. On average, research analysts predict that Haemonetics will post 4.59 earnings per share for the current fiscal year.

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.