Haemonetics Co. (NYSE:HAE) Short Interest Up 20.6% in August

Haemonetics Co. (NYSE:HAE) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 6,090,000 shares, a growth of 20.6% from the August 15th total of 5,050,000 shares. Based on an average daily trading volume, of 582,100 shares, the days-to-cover ratio is presently 10.5 days. Approximately 12.0% of the company’s stock are sold short.

Haemonetics Price Performance

HAE traded up $2.83 during midday trading on Friday, reaching $76.09. 670,561 shares of the company’s stock were exchanged, compared to its average volume of 535,663. The business’s 50-day moving average price is $81.38 and its 200 day moving average price is $83.96. The stock has a market capitalization of $3.89 billion, a PE ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30. 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.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). The company had revenue of $336.17 million during the quarter, compared to analysts’ expectations of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. Haemonetics’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities analysts anticipate that Haemonetics will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HAE shares. Bank of America initiated coverage on shares of Haemonetics in a research note on Wednesday. They set a “neutral” rating and a $85.00 price target on the stock. CL King began coverage on Haemonetics in a research note on Friday. They set a “buy” rating and a $116.00 target price for the company. Barrington Research lifted their price target on Haemonetics from $107.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, BTIG Research initiated coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.14.

Insider Transactions at Haemonetics

In other Haemonetics news, EVP Anila Lingamneni sold 2,136 shares of the company’s stock in a transaction 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 transaction, the executive vice president now 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 accessible through this hyperlink. In other news, EVP Anila Lingamneni sold 2,136 shares of the stock in a transaction dated 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 owns 21,410 shares in the company, valued at $1,926,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stewart W. Strong sold 4,312 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the transaction, the insider now directly owns 18,196 shares in the company, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Haemonetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP boosted its stake in shares of Haemonetics by 27.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock worth $60,888,000 after purchasing an additional 152,098 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Haemonetics by 14.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 191,253 shares of the medical instruments supplier’s stock worth $16,354,000 after acquiring an additional 24,394 shares during the last quarter. Isthmus Partners LLC purchased a new stake in Haemonetics in the 4th quarter worth approximately $1,530,000. Dynamic Technology Lab Private Ltd acquired a new position in Haemonetics in the 4th quarter valued at $888,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Haemonetics during the 4th quarter worth $2,039,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.