Short Interest in Haemonetics Co. (NYSE:HAE) Increases By 5.2%

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

Insider Buying and Selling at Haemonetics

In other Haemonetics news, EVP Anila Lingamneni sold 2,136 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the sale, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Anila Lingamneni sold 2,136 shares of Haemonetics stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total transaction of $192,240.00. Following the completion of the sale, the executive vice president now directly owns 21,410 shares in the company, valued at $1,926,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction on Friday, July 26th. The stock was 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. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Haemonetics in the second quarter valued at $39,000. TFO Wealth Partners LLC increased its holdings in Haemonetics by 29,450.0% in the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 589 shares in the last quarter. Covestor Ltd increased its holdings in Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier’s stock valued at $58,000 after buying an additional 438 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Haemonetics in the second quarter valued at $82,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Haemonetics during the second quarter worth about $83,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Trading Up 0.3 %

NYSE HAE opened at $75.58 on Tuesday. Haemonetics has a 1 year low of $70.74 and a 1 year high of $97.97. 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 company has a fifty day moving average of $83.08 and a 200 day moving average of $83.98. The company has a market capitalization of $3.85 billion, a PE ratio of 33.00, a P/E/G ratio of 1.38 and a beta of 0.29.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share 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 during the quarter, compared to analysts’ expectations of $335.08 million. During the same period in the previous year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Haemonetics will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

HAE has been the subject of several research reports. Needham & Company LLC upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Wednesday, June 12th. Barrington Research boosted their target price on shares of Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, Citigroup decreased their target price on shares of Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.50.

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.