Short Interest in Haemonetics Co. (NYSE:HAE) Declines By 11.2%

Haemonetics Co. (NYSE:HAE) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 4,580,000 shares, a drop of 11.2% from the October 31st total of 5,160,000 shares. Based on an average daily volume of 622,700 shares, the short-interest ratio is currently 7.4 days. Approximately 9.2% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on HAE. BTIG Research assumed coverage on shares of Haemonetics in a report on Tuesday, September 10th. They set a “buy” rating and a $112.00 price objective on the stock. Citigroup reduced their price target on Haemonetics from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. CL King initiated coverage on Haemonetics in a research report on Friday, September 13th. They set a “buy” rating and a $116.00 price objective on the stock. Bank of America assumed coverage on shares of Haemonetics in a report on Wednesday, September 11th. They issued a “neutral” rating and a $85.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $112.00 price target on shares of Haemonetics in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.88.

Institutional Investors Weigh In On Haemonetics

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings 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 during the period. Royce & Associates LP boosted its position in Haemonetics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier’s stock worth $97,304,000 after purchasing an additional 30,868 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Haemonetics by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock worth $95,986,000 after purchasing an additional 21,547 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Haemonetics by 29.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier’s stock valued at $88,433,000 after purchasing an additional 250,833 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Haemonetics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,735 shares of the medical instruments supplier’s stock valued at $80,972,000 after purchasing an additional 57,665 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Haemonetics Stock Performance

Haemonetics stock traded down $0.42 during mid-day trading on Friday, reaching $87.47. 273,618 shares of the company traded hands, compared to its average volume of 727,644. Haemonetics has a fifty-two week low of $70.25 and a fifty-two week high of $97.97. The firm’s fifty day moving average is $79.99 and its two-hundred day moving average is $82.05. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.36 and a beta of 0.32.

Haemonetics (NYSE:HAE) last issued its earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. On average, equities research analysts expect that Haemonetics will post 4.59 earnings per share for the current fiscal year.

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.