Short Interest in Haemonetics Co. (NYSE:HAE) Expands By 20.6%

Haemonetics Co. (NYSE:HAE - Get Free Report) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 6,090,000 shares, a growth of 20.6% from the August 15th total of 5,050,000 shares. Approximately 12.0% of the company's stock are short sold. Based on an average daily trading volume, of 582,100 shares, the days-to-cover ratio is currently 10.5 days.

Wall Street Analyst Weigh In

HAE has been the topic of a number of research analyst reports. Bank of America started coverage on shares of Haemonetics in a report on Wednesday. They issued a "neutral" rating and a $85.00 target price on the stock. CL King began coverage on Haemonetics in a research note on Friday. They issued a "buy" rating and a $116.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Citigroup dropped their price target on Haemonetics from $94.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, August 22nd. Finally, Needham & Company LLC raised shares of Haemonetics from a "hold" rating to a "buy" rating and set a $112.00 price objective for the company in a research report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Haemonetics has an average rating of "Moderate Buy" and an average price target of $106.14.

Haemonetics Stock Performance

HAE traded up $2.83 during trading on Friday, hitting $76.09. The stock had a trading volume of 670,561 shares, compared to its average volume of 535,663. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.76 and a quick ratio of 2.33. The company has a 50 day moving average price of $81.38 and a 200-day moving average price of $84.03. Haemonetics has a one year low of $70.74 and a one year high of $97.97. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE - Get Free Report) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $336.17 million during the quarter, compared to the consensus estimate of $335.08 million. During the same period in the previous year, the firm posted $1.05 EPS. The company's revenue was up 8.0% compared to the same quarter last year. As a group, research analysts predict that Haemonetics will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Anila Lingamneni sold 2,136 shares of the firm's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $90.00, for a total value of $192,240.00. Following the completion of the transaction, the executive vice president now owns 21,410 shares in the company, valued at approximately $1,926,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stewart W. Strong sold 4,312 shares of the business's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the transaction, the insider now directly owns 18,196 shares in the company, valued at $1,658,565.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anila Lingamneni sold 2,136 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total transaction of $192,240.00. Following the completion of the sale, the executive vice president now owns 21,410 shares of the company's stock, valued at approximately $1,926,900. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its stake in shares of Haemonetics by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 3,673 shares of the medical instruments supplier's stock valued at $304,000 after buying an additional 117 shares during the period. QRG Capital Management Inc. lifted its position in shares of Haemonetics by 6.9% during the 2nd quarter. QRG Capital Management Inc. now owns 4,031 shares of the medical instruments supplier's stock valued at $333,000 after acquiring an additional 260 shares during the period. Arizona State Retirement System grew its holdings in shares of Haemonetics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 14,217 shares of the medical instruments supplier's stock worth $1,176,000 after purchasing an additional 272 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Haemonetics by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,474 shares of the medical instruments supplier's stock worth $1,065,000 after purchasing an additional 300 shares during the period. Finally, Qtron Investments LLC raised its stake in Haemonetics by 5.7% in the fourth quarter. Qtron Investments LLC now owns 6,310 shares of the medical instruments supplier's stock valued at $540,000 after purchasing an additional 343 shares in the last quarter. 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.