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

Haemonetics Co. (NYSE:HAE) was the target of a significant increase in short interest during the month of 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. Based on an average daily volume of 556,200 shares, the days-to-cover ratio is presently 9.4 days. Approximately 10.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $108.00 target price on shares of Haemonetics in a research report on Wednesday, December 4th. JPMorgan Chase & Co. began coverage on Haemonetics in a research note on Friday, December 6th. They set an “overweight” rating and a $116.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $112.00 price target on shares of Haemonetics in a research note 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.78.

Haemonetics Trading Up 1.3 %

Shares of Haemonetics stock traded up $0.88 during trading hours on Tuesday, hitting $67.03. The company’s stock had a trading volume of 315,304 shares, compared to its average volume of 681,848. Haemonetics has a twelve month low of $65.73 and a twelve month high of $97.97. The firm has a fifty day moving average of $78.16 and a 200-day moving average of $78.93. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 27.81, 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 (NYSE:HAE) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, beating 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 analyst estimates of $342.57 million. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Haemonetics will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Hedge funds have recently bought and sold shares of the company. Global Alpha Capital Management Ltd. acquired a new stake in Haemonetics in the 3rd quarter valued at about $806,000. Loomis Sayles & Co. L P grew its stake in Haemonetics by 8.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock worth $13,171,000 after buying an additional 12,310 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Haemonetics by 174.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock worth $1,362,000 after acquiring an additional 10,774 shares during the period. Westfield Capital Management Co. LP lifted its position in Haemonetics by 10.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock worth $66,206,000 after acquiring an additional 80,783 shares during the period. Finally, FMR LLC lifted its position 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 acquiring an additional 521,640 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

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.