Haemonetics (NYSE:HAE) Stock Price Down 6.7% After Insider Selling

Haemonetics Co. (NYSE:HAE)’s stock price was down 6.7% on Thursday after an insider sold shares in the company. The company traded as low as $86.81 and last traded at $87.02. Approximately 212,865 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 455,834 shares. The stock had previously closed at $93.25.

Specifically, EVP Anila Lingamneni sold 2,305 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the completion of the transaction, the executive vice president now directly owns 12,295 shares in the company, valued at approximately $1,168,025. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HAE shares. TheStreet downgraded shares of Haemonetics from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Barrington Research reissued an “outperform” rating and set a $105.00 price target on shares of Haemonetics in a report on Friday, April 12th. Finally, StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd.

Haemonetics Stock Down 4.0 %

The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.76 and a current ratio of 2.92. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.23 and a beta of 0.34. The firm’s 50-day simple moving average is $83.59 and its two-hundred day simple moving average is $82.81.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. Haemonetics had a net margin of 9.97% and a return on equity of 22.37%. The firm had revenue of $336.20 million during the quarter, compared to analysts’ expectations of $320.84 million. During the same quarter last year, the company posted $0.85 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Haemonetics Co. will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Haemonetics by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,380,858 shares of the medical instruments supplier’s stock worth $482,017,000 after purchasing an additional 27,146 shares in the last quarter. Kingdon Capital Management L.L.C. bought a new stake in shares of Haemonetics in the third quarter worth $9,952,000. Lazard Asset Management LLC lifted its position in shares of Haemonetics by 114.2% in the third quarter. Lazard Asset Management LLC now owns 38,538 shares of the medical instruments supplier’s stock worth $3,452,000 after purchasing an additional 20,550 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Haemonetics by 1.1% in the third quarter. Los Angeles Capital Management LLC now owns 53,058 shares of the medical instruments supplier’s stock worth $4,753,000 after purchasing an additional 586 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of Haemonetics by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 268,643 shares of the medical instruments supplier’s stock worth $24,065,000 after purchasing an additional 6,828 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

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 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, and Donor360.