Haemonetics Co. (NYSE:HAE) Sees Large Decline in Short Interest

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Haemonetics Co. (NYSE:HAE) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 1,079,400 shares, a decline of 29.2% from the April 30th total of 1,524,900 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 505,900 shares, the short-interest ratio is currently 2.1 days.

Shares of NYSE HAE traded up $0.73 during midday trading on Tuesday, hitting $114.03. The company’s stock had a trading volume of 617,944 shares, compared to its average volume of 490,263. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.62 and a current ratio of 2.44. Haemonetics has a 12-month low of $80.24 and a 12-month high of $117.56. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 2.84 and a beta of 0.66.

Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Haemonetics had a return on equity of 18.88% and a net margin of 5.69%. The firm had revenue of $249.30 million for the quarter, compared to the consensus estimate of $250.62 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts predict that Haemonetics will post 2.93 earnings per share for the current year.

A number of equities research analysts have issued reports on HAE shares. Zacks Investment Research downgraded Haemonetics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Barrington Research restated an “outperform” rating and set a $116.00 price objective (up from $112.00) on shares of Haemonetics in a research report on Wednesday, May 8th. TheStreet upgraded Haemonetics from a “c+” rating to a “b-” rating in a research report on Tuesday, May 7th. Finally, Raymond James upgraded Haemonetics from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $118.60.

In other Haemonetics news, SVP Jacqueline Scanlan sold 3,646 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $112.49, for a total transaction of $410,138.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Simon sold 1,248 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $109.37, for a total value of $136,493.76. The disclosure for this sale can be found here. Insiders sold 103,952 shares of company stock worth $10,130,798 over the last quarter. 1.32% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Haemonetics by 5.9% in the first quarter. BlackRock Inc. now owns 6,385,237 shares of the medical instruments supplier’s stock worth $558,580,000 after buying an additional 358,431 shares during the period. Vanguard Group Inc raised its holdings in shares of Haemonetics by 1.9% in the third quarter. Vanguard Group Inc now owns 5,619,707 shares of the medical instruments supplier’s stock worth $643,906,000 after buying an additional 107,357 shares during the period. Jackson Square Partners LLC raised its holdings in shares of Haemonetics by 12.8% in the first quarter. Jackson Square Partners LLC now owns 1,655,676 shares of the medical instruments supplier’s stock worth $144,838,000 after buying an additional 187,950 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Haemonetics by 14.2% in the first quarter. Neuberger Berman Group LLC now owns 1,625,242 shares of the medical instruments supplier’s stock worth $142,176,000 after buying an additional 202,406 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Haemonetics by 6.9% in the first quarter. Wells Fargo & Company MN now owns 959,681 shares of the medical instruments supplier’s stock worth $83,953,000 after buying an additional 62,238 shares during the period. Hedge funds and other institutional investors own 98.86% of the company’s stock.

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About Haemonetics

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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