Haemonetics Co. (NYSE:HAE) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,950,000 shares, an increase of 23.4% from the March 31st total of 1,580,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily volume of 647,500 shares, the short-interest ratio is presently 3.0 days.
Haemonetics stock opened at $65.61 on Tuesday. The firm has a market capitalization of $3.33 billion, a PE ratio of 31.70, a P/E/G ratio of 5.17 and a beta of 0.56. The company's 50-day moving average is $102.18 and its 200-day moving average is $114.01. Haemonetics has a fifty-two week low of $65.45 and a fifty-two week high of $142.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 1.34.
Haemonetics (NYSE:HAE) last released its quarterly earnings data on Monday, February 1st. The medical instruments supplier reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.16. Haemonetics had a net margin of 11.76% and a return on equity of 22.85%. The company had revenue of $240.00 million for the quarter, compared to analyst estimates of $224.29 million. During the same period in the previous year, the business earned $0.94 EPS. Haemonetics's revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, analysts expect that Haemonetics will post 2.45 EPS for the current year.
In other Haemonetics news, VP Dan Goldstein sold 2,671 shares of the firm's stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $135.86, for a total transaction of $362,882.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Meelia sold 10,353 shares of the firm's stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $134.64, for a total transaction of $1,393,927.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,194 shares of company stock valued at $1,777,115. Corporate insiders own 1.63% of the company's stock.
A number of institutional investors and hedge funds have recently made changes to their positions in HAE. Meeder Asset Management Inc. grew its stake in Haemonetics by 7,350.0% in the 1st quarter. Meeder Asset Management Inc. now owns 298 shares of the medical instruments supplier's stock valued at $33,000 after buying an additional 294 shares during the last quarter. Berman Capital Advisors LLC bought a new stake in Haemonetics in the 4th quarter valued at about $47,000. IFP Advisors Inc boosted its holdings in Haemonetics by 531.0% in the 4th quarter. IFP Advisors Inc now owns 530 shares of the medical instruments supplier's stock valued at $62,000 after purchasing an additional 446 shares during the period. IronBridge Private Wealth LLC bought a new stake in Haemonetics in the 4th quarter valued at about $119,000. Finally, Dupont Capital Management Corp boosted its holdings in Haemonetics by 330.2% in the 4th quarter. Dupont Capital Management Corp now owns 1,424 shares of the medical instruments supplier's stock valued at $169,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 96.22% of the company's stock.
HAE has been the subject of several recent analyst reports. Raymond James raised their price objective on shares of Haemonetics from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Friday, February 12th. Morgan Stanley reissued an "equal weight" rating and issued a $83.00 price target (down previously from $147.00) on shares of Haemonetics in a report on Monday, April 26th. JMP Securities raised their price target on shares of Haemonetics from $110.00 to $140.00 in a report on Thursday, January 21st. Barrington Research lowered their price target on shares of Haemonetics from $140.00 to $91.00 and set an "outperform" rating for the company in a report on Monday, April 26th. Finally, Needham & Company LLC lowered their price target on shares of Haemonetics from $158.00 to $108.00 and set a "buy" rating for the company in a report on Monday, April 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Haemonetics has a consensus rating of "Buy" and an average target price of $117.00.
Haemonetics Company Profile
Haemonetics Corporation, a healthcare company, provides hematology products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, 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.
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