Short Interest in Haemonetics Co. (NYSE:HAE) Grows By 10.7%

Haemonetics Co. (NYSE:HAE) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,670,000 shares, a growth of 10.7% from the June 30th total of 4,220,000 shares. Based on an average daily volume of 591,400 shares, the short-interest ratio is currently 7.9 days. Approximately 9.3% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities analysts have recently commented on HAE shares. JMP Securities lifted their target price on shares of Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 10th. Needham & Company LLC upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Wednesday, June 12th. Finally, Barrington Research increased their target price on shares of Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Haemonetics Stock Performance

NYSE:HAE traded up $1.13 during midday trading on Wednesday, reaching $90.06. The stock had a trading volume of 361,732 shares, compared to its average volume of 507,691. The stock has a market cap of $4.59 billion, a P/E ratio of 39.33, a P/E/G ratio of 1.64 and a beta of 0.29. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83. Haemonetics has a 12-month low of $70.74 and a 12-month high of $97.97. The firm has a fifty day simple moving average of $86.87 and a two-hundred day simple moving average of $84.08.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $329.53 million. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts expect that Haemonetics will post 4.57 EPS for the current year.

Insider Buying and Selling at Haemonetics

In other news, EVP Anila Lingamneni sold 2,305 shares of the business’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 transaction of $218,975.00. Following the completion of the sale, the executive vice president now owns 12,295 shares in the company, valued at approximately $1,168,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Stewart W. Strong sold 8,857 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $87.53, for a total value of $775,253.21. Following the completion of the sale, the insider now directly owns 18,196 shares of the company’s stock, valued at approximately $1,592,695.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anila Lingamneni sold 2,305 shares of Haemonetics stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total value of $218,975.00. Following the transaction, the executive vice president now directly owns 12,295 shares in the company, valued at approximately $1,168,025. The disclosure for this sale can be found here. Insiders have sold 33,828 shares of company stock worth $3,031,095 over the last three months. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Haemonetics

A number of large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP raised its position in Haemonetics by 27.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after acquiring an additional 152,098 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Haemonetics by 14.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock valued at $16,354,000 after purchasing an additional 24,394 shares during the period. Isthmus Partners LLC purchased a new stake in Haemonetics during the fourth quarter worth about $1,530,000. Dynamic Technology Lab Private Ltd acquired a new position in Haemonetics during the fourth quarter worth about $888,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Haemonetics in the fourth quarter valued at about $2,039,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.