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

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

Institutional Investors Weigh In On Haemonetics

A number of hedge funds have recently added to or reduced their stakes in HAE. Thrivent Financial for Lutherans lifted its position in shares of Haemonetics by 6,573.6% during the second quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier’s stock worth $70,267,000 after purchasing an additional 836,623 shares in the last quarter. FMR LLC lifted its holdings in Haemonetics by 206.3% during the 3rd quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier’s stock worth $62,257,000 after buying an additional 521,640 shares in the last quarter. Wellington Management Group LLP boosted its position in Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier’s stock valued at $337,722,000 after buying an additional 363,702 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Haemonetics by 75.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock valued at $63,933,000 after buying an additional 343,214 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Haemonetics by 327.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier’s stock valued at $25,445,000 after buying an additional 235,535 shares during the period. Institutional investors own 99.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America assumed coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price on the stock. BTIG Research started coverage on Haemonetics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $112.00 price objective for the company. CL King initiated coverage on Haemonetics in a report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $108.00 target price on shares of Haemonetics in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. started coverage on shares of Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.78.

Haemonetics Price Performance

Shares of NYSE:HAE traded up $1.48 on Wednesday, hitting $78.08. The stock had a trading volume of 399,288 shares, compared to its average volume of 550,012. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49. The firm’s 50 day moving average price is $81.69 and its 200-day moving average price is $80.85. Haemonetics has a twelve month low of $70.25 and a twelve month high of $97.97.

Haemonetics (NYSE:HAE) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The business had revenue of $345.50 million for the quarter, compared to the consensus estimate of $342.57 million. During the same period in the previous year, the business earned $0.99 EPS. Haemonetics’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Haemonetics will post 4.59 earnings per share for the current year.

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.