Haemonetics (NYSE:HAE) Trading Down 6.7% After Insider Selling

Haemonetics Co. (NYSE:HAE)’s stock price fell 6.7% on Thursday after an insider sold shares in the company. The company traded as low as $86.81 and last traded at $87.02. 212,865 shares were traded during mid-day trading, a decline of 53% from the average session volume of 455,834 shares. The stock had previously closed at $93.25.

Specifically, EVP Anila Lingamneni sold 2,305 shares of the 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 completion of the sale, the executive vice president now owns 12,295 shares of the company’s stock, valued at $1,168,025. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HAE. TheStreet cut Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Barrington Research restated an “outperform” rating and set a $105.00 target price on shares of Haemonetics in a report on Friday, April 12th. Finally, StockNews.com lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd.

Haemonetics Stock Down 0.7 %

The firm has a market cap of $4.70 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. The company has a quick ratio of 1.76, a current ratio of 2.92 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $83.98 and a two-hundred day moving average price of $82.88.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The company had revenue of $336.20 million for the quarter, compared to analyst estimates of $320.84 million. During the same quarter last year, the company earned $0.85 EPS. Haemonetics’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Haemonetics Co. will post 3.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new stake in Haemonetics in the third quarter valued at $30,000. TFO Wealth Partners LLC lifted its stake in Haemonetics by 29,450.0% during the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 589 shares during the last quarter. Group One Trading L.P. acquired a new position in Haemonetics in the third quarter valued at approximately $55,000. Parkside Financial Bank & Trust increased its stake in Haemonetics by 17.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock valued at $90,000 after purchasing an additional 156 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Haemonetics during the 1st quarter worth approximately $114,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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 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, and Donor360.