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

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

Haemonetics Stock Up 2.1 %

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

Haemonetics (NYSE:HAE) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $345.50 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. On average, research analysts expect that Haemonetics will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Haemonetics

Several institutional investors have recently made changes to their positions in HAE. Quarry LP purchased a new stake in Haemonetics during the 2nd quarter worth $39,000. Nisa Investment Advisors LLC boosted 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 buying an additional 632 shares during the last quarter. KBC Group NV boosted 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 buying an additional 712 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Haemonetics in the 3rd quarter valued at about $204,000. Finally, CWC Advisors LLC. purchased a new position in Haemonetics in the 3rd quarter valued at about $231,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.