Short Interest in Haemonetics Co. (NYSE:HAE) Grows By 5.6%

Haemonetics Co. (NYSE:HAE) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 5,240,000 shares, a growth of 5.6% from the January 15th total of 4,960,000 shares. Based on an average daily volume of 781,800 shares, the days-to-cover ratio is currently 6.7 days. Currently, 10.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. increased its stake in Haemonetics by 3.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 4,878 shares of the medical instruments supplier’s stock worth $392,000 after acquiring an additional 180 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Haemonetics by 75.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier’s stock worth $63,933,000 after purchasing an additional 343,214 shares in the last quarter. Riverwater Partners LLC increased its position in shares of Haemonetics by 185.0% in the third quarter. Riverwater Partners LLC now owns 44,841 shares of the medical instruments supplier’s stock worth $3,556,000 after purchasing an additional 29,109 shares during the period. Keene & Associates Inc. raised its stake in Haemonetics by 3.0% in the third quarter. Keene & Associates Inc. now owns 10,174 shares of the medical instruments supplier’s stock valued at $818,000 after purchasing an additional 298 shares in the last quarter. Finally, CWC Advisors LLC. bought a new stake in Haemonetics during the third quarter worth about $231,000. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Performance

Shares of NYSE HAE opened at $64.14 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.09. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 0.98 and a beta of 0.39. The stock’s fifty day moving average price is $73.77 and its two-hundred day moving average price is $77.03. Haemonetics has a one year low of $58.80 and a one year high of $97.97.

Haemonetics (NYSE:HAE) last released its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, equities analysts forecast that Haemonetics will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HAE. Barrington Research cut their price objective on Haemonetics from $108.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price target (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. Needham & Company LLC lowered their price objective on shares of Haemonetics from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Bank of America downgraded shares of Haemonetics from a “neutral” rating to an “underperform” rating and cut their target price for the company from $95.00 to $68.00 in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. initiated coverage on Haemonetics in a report on Friday, December 6th. They set an “overweight” rating and a $116.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.67.

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.