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

Haemonetics Co. (NYSE:HAE) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,240,000 shares, an increase of 9.8% from the March 31st total of 2,040,000 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average daily trading volume, of 476,900 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HAE shares. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Barrington Research restated an “outperform” rating and issued a $105.00 target price on shares of Haemonetics in a research note on Friday, April 12th. Finally, TheStreet lowered Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th.

Haemonetics Stock Performance

NYSE:HAE opened at $92.26 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.76 and a current ratio of 2.92. Haemonetics has a 52-week low of $70.74 and a 52-week high of $95.26. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.16 and a beta of 0.36. The business’s fifty day moving average is $81.58 and its 200 day moving average is $82.67.

Haemonetics (NYSE:HAE) last released its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The company had revenue of $336.20 million for the quarter, compared to analyst estimates of $320.84 million. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that Haemonetics will post 3.95 EPS for the current year.

Hedge Funds Weigh In On Haemonetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAE. Exchange Traded Concepts LLC purchased a new position in Haemonetics during the third quarter worth about $597,000. Raymond James & Associates grew its position in Haemonetics by 11.6% during the third quarter. Raymond James & Associates now owns 32,801 shares of the medical instruments supplier’s stock worth $2,938,000 after buying an additional 3,421 shares in the last quarter. Bailard Inc. grew its position in Haemonetics by 11.8% during the third quarter. Bailard Inc. now owns 2,835 shares of the medical instruments supplier’s stock worth $254,000 after buying an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Haemonetics by 58.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,446 shares of the medical instruments supplier’s stock worth $1,204,000 after buying an additional 4,959 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in shares of Haemonetics in the 3rd quarter worth about $2,114,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.