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 February. As of February 15th, there was short interest totalling 6,830,000 shares, an increase of 30.3% from the January 31st total of 5,240,000 shares. Approximately 13.8% of the company’s shares are short sold. Based on an average daily volume of 792,300 shares, the days-to-cover ratio is currently 8.6 days.

Hedge Funds Weigh In On Haemonetics

Institutional investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. purchased a new stake in shares of Haemonetics in the 3rd quarter worth approximately $806,000. Loomis Sayles & Co. L P lifted its holdings in Haemonetics by 8.1% during the third quarter. Loomis Sayles & Co. L P now owns 163,856 shares of the medical instruments supplier’s stock worth $13,171,000 after buying an additional 12,310 shares during the period. BNP Paribas Financial Markets boosted its position in Haemonetics by 174.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,949 shares of the medical instruments supplier’s stock valued at $1,362,000 after acquiring an additional 10,774 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Haemonetics by 10.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 823,663 shares of the medical instruments supplier’s stock valued at $66,206,000 after acquiring an additional 80,783 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Haemonetics by 13.1% in the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier’s stock worth $71,500,000 after acquiring an additional 106,114 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Haemonetics Stock Performance

NYSE HAE traded up $0.86 on Tuesday, hitting $65.94. 1,214,889 shares of the company traded hands, compared to its average volume of 1,031,906. The business’s 50 day moving average price is $70.38 and its 200-day moving average price is $75.89. Haemonetics has a 52-week low of $58.80 and a 52-week high of $97.97. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.11 and a beta of 0.39.

Haemonetics (NYSE:HAE) last released its earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Equities analysts expect that Haemonetics will post 4.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HAE. JPMorgan Chase & Co. assumed coverage on Haemonetics in a research note on Friday, December 6th. They issued an “overweight” rating and a $116.00 price objective on the stock. Bank of America lowered Haemonetics from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $68.00 in a research note on Friday, February 7th. StockNews.com downgraded shares of Haemonetics from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Raymond James reiterated a “strong-buy” rating and issued a $115.00 price objective (down previously from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. Finally, Needham & Company LLC cut their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.