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

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

Analyst Ratings Changes

HAE has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 target price on the stock. Barrington Research restated an “outperform” rating and issued a $108.00 price target on shares of Haemonetics in a report on Wednesday, December 4th. 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 report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Haemonetics currently has a consensus rating of “Moderate Buy” and an average price target of $108.78.

Institutional Investors Weigh In On Haemonetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Haemonetics during the 2nd quarter worth about $39,000. Nisa Investment Advisors LLC lifted its position in Haemonetics by 124.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 632 shares in the last quarter. KBC Group NV lifted its position in Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier’s stock valued at $157,000 after acquiring an additional 712 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Haemonetics in the 3rd quarter valued at about $204,000. Finally, CWC Advisors LLC. bought a new position in Haemonetics in the 3rd quarter valued at about $231,000. 99.67% of the stock is currently owned by institutional investors.

Haemonetics Stock Performance

NYSE HAE traded up $1.42 during trading on Tuesday, reaching $67.57. 256,005 shares of the company’s stock were exchanged, compared to its average volume of 679,520. The business has a 50 day moving average price of $78.16 and a 200-day moving average price of $78.93. The stock has a market capitalization of $3.39 billion, a P/E ratio of 27.98, a PEG ratio of 1.07 and a beta of 0.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. Haemonetics has a fifty-two week low of $65.73 and a fifty-two week high of $97.97.

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

About Haemonetics

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.