Haemonetics Corporation (NYSE:HAE) Short Interest Up 41.9% in August

Key Points

• Haemonetics Corporation experienced a significant increase in short interest of 41.9% in August, rising to 4,370,000 shares as of August 15th.
• The company's stock has seen a 0.7% decrease recently and is currently trading at $54.02, well below its 52-week high of $94.99.
• Haemonetics reported $1.10 earnings per share for the last quarter, exceeding analysts' forecasts but showing a 4.4% decline in revenue year-over-year.

Haemonetics Corporation (NYSE:HAE - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 4,370,000 shares, anincreaseof41.9% from the July 31st total of 3,080,000 shares. Currently,9.2% of the shares of the stock are sold short. Based on an average daily volume of 783,400 shares, the short-interest ratio is presently 5.6 days. Based on an average daily volume of 783,400 shares, the short-interest ratio is presently 5.6 days. Currently,9.2% of the shares of the stock are sold short.

Haemonetics Stock Down 0.7%

HAE stock traded down $0.36 during midday trading on Monday, reaching $54.02. 804,466 shares of the company's stock traded hands, compared to its average volume of 974,669. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 0.39. The firm's fifty day moving average price is $65.63 and its 200-day moving average price is $65.71. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. Haemonetics has a 52 week low of $50.68 and a 52 week high of $94.99.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.09. The company had revenue of $321.39 million for the quarter, compared to the consensus estimate of $305.12 million. Haemonetics had a net margin of 12.14% and a return on equity of 26.64%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 EPS. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. As a group, sell-side analysts forecast that Haemonetics will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Haemonetics by 63.4% during the first quarter. Quarry LP now owns 495 shares of the medical instruments supplier's stock valued at $31,000 after buying an additional 192 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Haemonetics by 2,640.0% during the second quarter. EverSource Wealth Advisors LLC now owns 411 shares of the medical instruments supplier's stock worth $31,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Haemonetics by 59.4% during the second quarter. GAMMA Investing LLC now owns 443 shares of the medical instruments supplier's stock worth $33,000 after purchasing an additional 165 shares in the last quarter. UMB Bank n.a. increased its position in shares of Haemonetics by 91.7% in the second quarter. UMB Bank n.a. now owns 669 shares of the medical instruments supplier's stock worth $50,000 after purchasing an additional 320 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Haemonetics in the second quarter worth approximately $64,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $62.00 price objective (down from $85.00) on shares of Haemonetics in a research note on Friday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $68.00 price objective (down from $84.00) on shares of Haemonetics in a research note on Thursday, August 7th. Raymond James Financial lowered shares of Haemonetics from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $105.00 to $78.00 in a research note on Monday, August 11th. Mizuho dropped their target price on shares of Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Citigroup upgraded shares of Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Haemonetics currently has a consensus rating of "Moderate Buy" and an average price target of $85.18.

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.

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