Haemonetics Corporation (NYSE:HAE) Sees Large Increase in Short Interest

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, an increase of 41.9% from the July 31st total of 3,080,000 shares. Approximately 9.2% of the shares of the company are short sold. Based on an average daily volume of 783,400 shares, the short-interest ratio is currently 5.6 days. Based on an average daily volume of 783,400 shares, the short-interest ratio is currently 5.6 days. Approximately 9.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Haemonetics

Several large investors have recently modified their holdings of the stock. River Road Asset Management LLC boosted its stake in shares of Haemonetics by 18.7% during the 2nd quarter. River Road Asset Management LLC now owns 1,655,676 shares of the medical instruments supplier's stock worth $122,586,000 after acquiring an additional 260,624 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Haemonetics by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,244,624 shares of the medical instruments supplier's stock worth $92,873,000 after acquiring an additional 23,257 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Haemonetics by 0.7% during the 1st quarter. Royce & Associates LP now owns 1,161,296 shares of the medical instruments supplier's stock worth $73,800,000 after acquiring an additional 8,028 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Haemonetics by 22.1% during the 1st quarter. Boston Trust Walden Corp now owns 1,118,331 shares of the medical instruments supplier's stock worth $71,070,000 after acquiring an additional 202,609 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Haemonetics by 2.3% during the 1st quarter. Royal Bank of Canada now owns 1,075,604 shares of the medical instruments supplier's stock worth $68,355,000 after acquiring an additional 24,650 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Price Performance

Shares of HAE stock traded down $1.25 during mid-day trading on Friday, hitting $52.23. 1,603,169 shares of the stock traded hands, compared to its average volume of 868,343. Haemonetics has a twelve month low of $50.68 and a twelve month high of $94.99. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.39. The company's 50-day simple moving average is $63.77 and its 200-day simple moving average is $65.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.72.

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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. Haemonetics had a return on equity of 26.64% and a net margin of 12.14%.The company had revenue of $321.39 million for the quarter, compared to analysts' expectations of $305.12 million. During the same period last year, the firm earned $1.02 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. Haemonetics has set its FY 2026 guidance at 4.700-5.00 EPS. As a group, equities research analysts expect that Haemonetics will post 4.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup raised Haemonetics from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a report on Wednesday, July 9th. Raymond James Financial downgraded Haemonetics from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $105.00 to $78.00 in a report on Monday, August 11th. Robert W. Baird assumed coverage on Haemonetics in a report on Thursday, June 26th. They issued an "outperform" rating and a $87.00 price target on the stock. Barrington Research cut their price target on Haemonetics from $95.00 to $86.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Mizuho cut their price target on Haemonetics from $90.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.78.

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.