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

Haemonetics Co. (NYSE:HAE - Get Free Report) was the target 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. Approximately 10.5% of the company's stock are sold short. Based on an average trading volume of 556,200 shares, the days-to-cover ratio is currently 9.4 days.

Haemonetics Stock Performance

NYSE HAE traded down $3.66 on Friday, reaching $59.34. 2,469,695 shares of the company's stock traded hands, compared to its average volume of 925,686. The stock has a 50 day moving average price of $76.94 and a 200-day moving average price of $78.62. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.07 and a beta of 0.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. Haemonetics has a fifty-two week low of $59.09 and a fifty-two week high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last issued its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. Equities research analysts predict that Haemonetics will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Haemonetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Haemonetics in the 2nd quarter worth about $39,000. Nisa Investment Advisors LLC raised its stake in shares of Haemonetics by 124.2% during 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. Parkside Financial Bank & Trust lifted its position in shares of Haemonetics by 25.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock valued at $92,000 after buying an additional 240 shares in the last quarter. AlphaQuest LLC grew its stake in Haemonetics by 36,520.0% in the 4th quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier's stock valued at $143,000 after acquiring an additional 1,826 shares during the period. Finally, KBC Group NV increased its holdings in Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier's stock worth $157,000 after acquiring an additional 712 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Haemonetics from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $95.00 to $68.00 in a report on Friday. JMP Securities cut their price target on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research note on Friday. Raymond James reiterated a "strong-buy" rating and set a $115.00 price objective (down from $120.00) on shares of Haemonetics in a research note on Friday. Needham & Company LLC cut their target price on Haemonetics from $112.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. started coverage on Haemonetics in a research note on Friday, December 6th. They issued an "overweight" rating and a $116.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.67.

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.