Haemonetics Co. (NYSE:HAE) Short Interest Update

Haemonetics Co. (NYSE:HAE) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 5,050,000 shares, a growth of 5.2% from the July 31st total of 4,800,000 shares. Approximately 10.0% of the company’s stock are short sold. Based on an average daily trading volume, of 652,600 shares, the days-to-cover ratio is presently 7.7 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HAE. Citigroup reduced their price target on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Needham & Company LLC upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Wednesday, June 12th. Finally, Barrington Research upped their price objective on Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Insider Transactions at Haemonetics

In other Haemonetics news, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anila Lingamneni sold 2,136 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $90.00, for a total value of $192,240.00. Following the transaction, the executive vice president now owns 21,410 shares in the company, valued at approximately $1,926,900. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stewart W. Strong sold 4,312 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the sale, the insider now owns 18,196 shares of the company’s stock, valued at $1,658,565.40. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Haemonetics

A number of institutional investors have recently bought and sold shares of HAE. Point72 Asset Management L.P. boosted its position in shares of Haemonetics by 178.3% during the second quarter. Point72 Asset Management L.P. now owns 219,024 shares of the medical instruments supplier’s stock valued at $18,120,000 after buying an additional 140,324 shares during the period. Quarry LP bought a new stake in shares of Haemonetics during the 2nd quarter worth approximately $39,000. Creative Planning purchased a new position in Haemonetics during the 2nd quarter valued at $368,000. The Manufacturers Life Insurance Company grew its position in Haemonetics by 327.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock valued at $25,445,000 after acquiring an additional 235,535 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Haemonetics in the second quarter worth $499,000. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Trading Down 0.1 %

Haemonetics stock opened at $75.00 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The firm’s 50 day moving average price is $82.75 and its 200-day moving average price is $83.94. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97. The stock has a market cap of $3.82 billion, a P/E ratio of 32.75, a PEG ratio of 1.38 and a beta of 0.29.

Haemonetics (NYSE:HAE) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $336.17 million for the quarter, compared to the consensus estimate of $335.08 million. During the same period in the previous year, the company posted $1.05 earnings per share. Haemonetics’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Haemonetics will post 4.58 earnings per share for the current fiscal year.

About Haemonetics

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.