Short Interest in Haemonetics Co. (NYSE:HAE) Expands By 6.5%

Haemonetics Co. (NYSE:HAE) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,230,000 shares, an increase of 6.5% from the December 31st total of 4,910,000 shares. Currently, 10.5% of the company’s shares are short sold. Based on an average daily trading volume, of 556,200 shares, the days-to-cover ratio is currently 9.4 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James upgraded Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $112.00 price objective on shares of Haemonetics in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. started coverage on Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 price objective for the company. Finally, Barrington Research restated an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.78.

Hedge Funds Weigh In On Haemonetics

A number of hedge funds have recently made changes to their positions in the business. Keene & Associates Inc. boosted its stake in shares of Haemonetics by 7.2% in the fourth quarter. Keene & Associates Inc. now owns 10,904 shares of the medical instruments supplier’s stock worth $851,000 after acquiring an additional 730 shares during the period. Cardinal Capital Management boosted its stake in shares of Haemonetics by 5.4% in the fourth quarter. Cardinal Capital Management now owns 18,284 shares of the medical instruments supplier’s stock worth $1,428,000 after acquiring an additional 935 shares during the period. Peregrine Capital Management LLC boosted its stake in shares of Haemonetics by 1.7% in the fourth quarter. Peregrine Capital Management LLC now owns 141,803 shares of the medical instruments supplier’s stock worth $11,072,000 after acquiring an additional 2,400 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Haemonetics by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 156,734 shares of the medical instruments supplier’s stock worth $12,238,000 after acquiring an additional 1,475 shares during the period. Finally, Rhumbline Advisers boosted its stake in Haemonetics by 0.6% during the fourth quarter. Rhumbline Advisers now owns 159,262 shares of the medical instruments supplier’s stock valued at $12,435,000 after buying an additional 1,024 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Up 0.6 %

Haemonetics stock opened at $66.57 on Tuesday. The stock has a market cap of $3.34 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.39. 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 has a one year low of $65.73 and a one year high of $97.97. The stock has a fifty day moving average of $78.61 and a 200 day moving average of $79.07.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. Haemonetics’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Haemonetics will post 4.59 EPS for the current year.

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.