Haemonetics (NYSE:HAE) Sees Unusually-High Trading Volume

Shares of Haemonetics Co. (NYSE:HAE) saw an uptick in trading volume on Thursday . 501,436 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 468,262 shares.The stock last traded at $89.85 and had previously closed at $90.09.

Analysts Set New Price Targets

Several brokerages have issued reports on HAE. JMP Securities boosted their price target on shares of Haemonetics from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Haemonetics in a research note on Friday, May 10th. StockNews.com lowered shares of Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. TheStreet lowered shares of Haemonetics from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. Finally, Barrington Research raised their target price on shares of Haemonetics from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $108.67.

Haemonetics Stock Performance

The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 1.61 and a beta of 0.34. The stock’s fifty day moving average is $87.78 and its two-hundred day moving average is $83.46. The company has a quick ratio of 1.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.83.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Haemonetics had a net margin of 8.98% and a return on equity of 22.25%. The business had revenue of $343.00 million for the quarter, compared to the consensus estimate of $329.53 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Haemonetics Co. will post 4.6 earnings per share for the current year.

Insiders Place Their Bets

In other Haemonetics news, insider Stewart W. Strong sold 733 shares of Haemonetics stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $96.04, for a total transaction of $70,397.32. Following the completion of the transaction, the insider now directly owns 15,608 shares of the company’s stock, valued at $1,498,992.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Stewart W. Strong sold 686 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $95.11, for a total value of $65,245.46. Following the completion of the sale, the insider now owns 18,196 shares of the company’s stock, valued at $1,730,621.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stewart W. Strong sold 733 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $96.04, for a total transaction of $70,397.32. Following the completion of the sale, the insider now directly owns 15,608 shares of the company’s stock, valued at approximately $1,498,992.32. The disclosure for this sale can be found here. Insiders sold a total of 5,533 shares of company stock valued at $526,404 over the last ninety days. 1.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Haemonetics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in Haemonetics by 17.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after purchasing an additional 156 shares during the period. Riverwater Partners LLC raised its stake in Haemonetics by 1.5% during the fourth quarter. Riverwater Partners LLC now owns 15,784 shares of the medical instruments supplier’s stock worth $1,350,000 after acquiring an additional 231 shares in the last quarter. Arizona State Retirement System raised its stake in Haemonetics by 1.7% during the third quarter. Arizona State Retirement System now owns 14,407 shares of the medical instruments supplier’s stock worth $1,291,000 after acquiring an additional 237 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in Haemonetics by 7.4% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,507 shares of the medical instruments supplier’s stock worth $300,000 after acquiring an additional 242 shares in the last quarter. Finally, LVZ Inc. increased its stake in shares of Haemonetics by 9.4% in the fourth quarter. LVZ Inc. now owns 3,006 shares of the medical instruments supplier’s stock valued at $257,000 after buying an additional 259 shares during the period. Institutional investors own 99.67% of the company’s stock.

About Haemonetics

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.