Haemonetics Co. (NYSE:HAE – Get Free Report) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 1,700,000 shares, a drop of 6.6% from the December 31st total of 1,820,000 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 296,100 shares, the days-to-cover ratio is currently 5.7 days.
Institutional Investors Weigh In On Haemonetics
Several institutional investors have recently made changes to their positions in HAE. Capital Research Global Investors lifted its holdings in shares of Haemonetics by 166.1% during the 1st quarter. Capital Research Global Investors now owns 5,452,006 shares of the medical instruments supplier’s stock valued at $344,676,000 after buying an additional 3,402,873 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Haemonetics by 21.5% during the 1st quarter. Wellington Management Group LLP now owns 6,165,363 shares of the medical instruments supplier’s stock valued at $389,776,000 after buying an additional 1,091,484 shares during the last quarter. Norges Bank acquired a new stake in shares of Haemonetics during the 4th quarter valued at about $33,932,000. Envestnet Asset Management Inc. lifted its holdings in shares of Haemonetics by 1,335.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 406,531 shares of the medical instruments supplier’s stock valued at $2,091,000 after buying an additional 378,219 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Haemonetics by 224.8% during the 1st quarter. Federated Hermes Inc. now owns 462,586 shares of the medical instruments supplier’s stock valued at $29,245,000 after buying an additional 320,184 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.
Haemonetics Trading Down 1.3 %
NYSE:HAE opened at $80.25 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.28 and a quick ratio of 2.19. Haemonetics has a fifty-two week low of $74.13 and a fifty-two week high of $95.26. The stock’s 50-day moving average is $84.04 and its two-hundred day moving average is $87.28. The stock has a market cap of $4.07 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.09 and a beta of 0.33.
Haemonetics (NYSE:HAE – Get Free Report) last released its earnings results on Thursday, November 2nd. The medical instruments supplier reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.05. Haemonetics had a return on equity of 22.33% and a net margin of 10.35%. The company had revenue of $318.18 million for the quarter, compared to analysts’ expectations of $319.18 million. As a group, equities research analysts forecast that Haemonetics will post 3.89 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on HAE shares. StockNews.com cut Haemonetics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 16th. Barrington Research dropped their price target on Haemonetics from $114.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.40.
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 intravenous 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.