Haemonetics Corporation (NYSE:HAE) was the target of a large decline in short interest in October. As of October 13th, there was short interest totalling 1,211,828 shares, a decline of 38.2% from the September 29th total of 1,960,751 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 333,615 shares, the days-to-cover ratio is presently 3.6 days.
Several analysts have issued reports on the company. Morgan Stanley upped their target price on Haemonetics Corporation from $43.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday. Craig Hallum reaffirmed a “hold” rating and issued a $50.00 price target (up from $40.00) on shares of Haemonetics Corporation in a research note on Wednesday. Barrington Research increased their target price on Haemonetics Corporation from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Investment Research raised Haemonetics Corporation from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, October 25th. Finally, TheStreet raised Haemonetics Corporation from a “c” rating to a “b-” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Haemonetics Corporation presently has an average rating of “Hold” and a consensus price target of $51.33.
Haemonetics Corporation (NYSE:HAE) opened at $54.52 on Friday. The company has a market capitalization of $2,879.64, a PE ratio of 33.45, a PEG ratio of 4.08 and a beta of 0.91. Haemonetics Corporation has a 12 month low of $36.44 and a 12 month high of $55.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.17 and a quick ratio of 1.72.
Haemonetics Corporation (NYSE:HAE) last issued its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $219.12 million. Haemonetics Corporation had a return on equity of 11.16% and a net margin of 0.50%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. research analysts expect that Haemonetics Corporation will post 1.7 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its holdings in Haemonetics Corporation by 0.6% during the 2nd quarter. US Bancorp DE now owns 22,154 shares of the medical instruments supplier’s stock valued at $875,000 after buying an additional 141 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Haemonetics Corporation by 0.5% in the 2nd quarter. Tudor Investment Corp ET AL now owns 28,126 shares of the medical instruments supplier’s stock worth $1,111,000 after purchasing an additional 143 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Haemonetics Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,400 shares of the medical instruments supplier’s stock worth $845,000 after purchasing an additional 200 shares during the period. Rothschild Asset Management Inc. lifted its stake in shares of Haemonetics Corporation by 0.3% during the 2nd quarter. Rothschild Asset Management Inc. now owns 87,858 shares of the medical instruments supplier’s stock worth $3,470,000 after acquiring an additional 269 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of Haemonetics Corporation by 1.0% during the 2nd quarter. Strs Ohio now owns 29,300 shares of the medical instruments supplier’s stock worth $1,157,000 after acquiring an additional 300 shares during the last quarter.
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Haemonetics Corporation Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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