Short Interest in Haemonetics Co. (NYSE:HAE) Rises By 9.8%

Haemonetics Co. (NYSE:HAE) was the target of a significant increase in short interest in 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 short sold. Based on an average daily volume of 476,900 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Haemonetics

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

Haemonetics Price Performance

NYSE HAE opened at $91.53 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.92 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.65 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 2.15 and a beta of 0.36. The company has a 50 day moving average price of $80.78 and a two-hundred day moving average price of $82.58. Haemonetics has a 12-month low of $70.74 and a 12-month high of $95.26.

Haemonetics (NYSE:HAE) last posted its earnings results 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. The firm had revenue of $336.20 million during the quarter, compared to analysts’ expectations of $320.84 million. Haemonetics had a net margin of 9.97% and a return on equity of 22.37%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, equities analysts predict that Haemonetics will post 3.95 earnings per share for the current fiscal 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 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.