Haemonetics Co. (NYSE:HAE) Short Interest Up 6.3% in August

Haemonetics Co. (NYSE:HAEGet Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,860,000 shares, an increase of 6.3% from the August 15th total of 1,750,000 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 421,400 shares, the days-to-cover ratio is currently 4.4 days.

Haemonetics Stock Performance

Shares of HAE opened at $76.33 on Thursday. The company has a quick ratio of 2.27, a current ratio of 3.81 and a debt-to-equity ratio of 0.99. The business has a 50-day simple moving average of $72.49 and a two-hundred day simple moving average of $64.05. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 58.27 and a beta of 0.36. Haemonetics has a 52 week low of $43.50 and a 52 week high of $79.45.

Haemonetics (NYSE:HAEGet Rating) last issued its quarterly earnings results on Wednesday, August 10th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The business had revenue of $261.50 million during the quarter, compared to analysts’ expectations of $249.00 million. Haemonetics had a return on equity of 18.62% and a net margin of 6.60%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, analysts expect that Haemonetics will post 2.79 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James upped their price target on Haemonetics from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. Barrington Research upped their price target on Haemonetics from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. StockNews.com raised Haemonetics from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. JMP Securities upped their price objective on Haemonetics from $80.00 to $90.00 and gave the company a “market outperform” rating in a research report on Thursday, August 11th. Finally, Citigroup upped their price objective on Haemonetics to $74.00 in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.80.

Insider Activity

In other news, Director Mark W. Kroll sold 8,016 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $73.71, for a total transaction of $590,859.36. Following the transaction, the director now directly owns 16,231 shares of the company’s stock, valued at $1,196,387.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Haemonetics news, EVP Michelle L. Basil sold 11,448 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $78.36, for a total value of $897,065.28. Following the sale, the executive vice president now directly owns 32,635 shares of the company’s stock, valued at $2,557,278.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark W. Kroll sold 8,016 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $73.71, for a total value of $590,859.36. Following the completion of the sale, the director now directly owns 16,231 shares in the company, valued at $1,196,387.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,516 shares of company stock worth $4,139,395. 1.65% of the stock is currently owned by insiders.

Institutional Trading of Haemonetics

A number of hedge funds and other institutional investors have recently bought and sold shares of HAE. Legal & General Group Plc grew its position in shares of Haemonetics by 6.0% during the second quarter. Legal & General Group Plc now owns 78,384 shares of the medical instruments supplier’s stock worth $5,109,000 after purchasing an additional 4,439 shares in the last quarter. Eagle Bay Advisors LLC grew its position in shares of Haemonetics by 155.1% during the second quarter. Eagle Bay Advisors LLC now owns 653 shares of the medical instruments supplier’s stock worth $43,000 after purchasing an additional 397 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of Haemonetics during the second quarter worth about $5,413,000. Price T Rowe Associates Inc. MD grew its position in shares of Haemonetics by 11.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 317,619 shares of the medical instruments supplier’s stock worth $20,702,000 after purchasing an additional 33,266 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Haemonetics during the second quarter worth about $326,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Haemonetics Company Profile

(Get Rating)

Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous 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.

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