Short Interest in Haemonetics Co. (NYSE:HAE) Increases By 7.4%

Haemonetics Co. (NYSE:HAE) saw a large growth in short interest during 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 company’s shares are sold short. Based on an average daily volume of 592,200 shares, the short-interest ratio is presently 8.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HAE. Raymond James & Associates boosted its stake in Haemonetics by 88.9% during the 2nd quarter. Raymond James & Associates now owns 16,951 shares of the medical instruments supplier’s stock valued at $1,402,000 after acquiring an additional 7,979 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Haemonetics by 41.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,258 shares of the medical instruments supplier’s stock worth $931,000 after purchasing an additional 3,274 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier’s stock valued at $304,000 after buying an additional 117 shares during the last quarter. Natixis Advisors LLC raised its stake in Haemonetics by 28.7% during the second quarter. Natixis Advisors LLC now owns 14,324 shares of the medical instruments supplier’s stock valued at $1,185,000 after buying an additional 3,193 shares in the last quarter. Finally, Versor Investments LP bought a new position in Haemonetics during the 2nd quarter worth approximately $273,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Haemonetics Stock Performance

Shares of NYSE:HAE opened at $78.08 on Thursday. The company has a market cap of $3.92 billion, a P/E ratio of 32.40, a PEG ratio of 1.26 and a beta of 0.38. Haemonetics has a one year low of $70.25 and a one year high of $97.97. The business’s 50-day simple moving average is $81.79 and its 200 day simple moving average is $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 (NYSE:HAE) last posted its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The business had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts forecast that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

HAE has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target for the company. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a research report on Friday, November 8th. Bank of America initiated coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price target for the company. BTIG Research assumed coverage on shares of Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective on the stock. Finally, CL King began coverage on Haemonetics in a report on Friday, September 13th. They issued a “buy” rating and a $116.00 target price on the stock. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.78.

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.