Haemonetics Co. (NYSE:HAE) Short Interest Up 7.4% in December

Haemonetics Co. (NYSE:HAE - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,910,000 shares, an increase of 7.4% from the November 30th total of 4,570,000 shares. Currently, 9.9% of the company's stock are short sold. Based on an average daily volume of 592,200 shares, the days-to-cover ratio is presently 8.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HAE shares. Barrington Research reissued an "outperform" rating and set a $108.00 target price on shares of Haemonetics in a research report on Wednesday, December 4th. CL King assumed coverage on Haemonetics in a research note on Friday, September 13th. They set a "buy" rating and a $116.00 price target for the company. Bank of America started coverage on Haemonetics in a research note on Wednesday, September 11th. They issued a "neutral" rating and a $85.00 price objective for the company. Raymond James raised Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 target price on the stock in a research report on Friday, November 8th. Finally, 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.78.

Haemonetics Stock Performance

HAE stock traded up $1.48 during midday trading on Wednesday, hitting $78.08. The company's stock had a trading volume of 399,288 shares, compared to its average volume of 550,012. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.29 and a beta of 0.38. The company has a quick ratio of 2.09, a current ratio of 3.49 and a debt-to-equity ratio of 1.39. The stock's 50-day moving average price is $81.79 and its 200 day moving average price is $80.83. Haemonetics has a 1 year low of $70.25 and a 1 year high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.03. The company had revenue of $345.50 million for the quarter, compared to analysts' expectations of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. On average, equities analysts forecast that Haemonetics will post 4.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HAE. Quarry LP bought a new position in shares of Haemonetics during the 2nd quarter worth $39,000. Daiwa Securities Group Inc. purchased a new stake in Haemonetics during the second quarter valued at about $82,000. Canada Pension Plan Investment Board bought a new position in Haemonetics during the second quarter worth about $83,000. Nisa Investment Advisors LLC boosted its holdings 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 worth $92,000 after buying an additional 632 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Haemonetics during the second quarter worth $140,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Company Profile

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.