Short Interest in Haemonetics Co. (NYSE:HAE) Increases By 7.4%

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. Based on an average daily volume of 592,200 shares, the short-interest ratio is currently 8.3 days. Currently, 9.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Haemonetics

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

Wall Street Analyst Weigh In

HAE has been the topic of several research reports. Barrington Research restated an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $112.00 price target on shares of Haemonetics in a research report on Tuesday, December 3rd. Bank of America began coverage on Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 price objective on the stock. BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Haemonetics presently has an average rating of “Moderate Buy” and an average price target of $108.78.

Haemonetics Stock Up 1.9 %

Shares of NYSE:HAE traded up $1.48 during midday trading on Wednesday, reaching $78.08. 399,288 shares of the company were exchanged, compared to its average volume of 550,012. The stock has a fifty day simple moving average of $81.79 and a two-hundred day simple moving average of $80.83. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97. 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 firm has a market cap of $3.92 billion, a PE ratio of 32.40, a P/E/G ratio of 1.29 and a beta of 0.38.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, sell-side analysts forecast that Haemonetics will post 4.59 earnings per share for the current year.

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.