Insider Selling: Haemonetics Corporation (NYSE:HAE) Director Sells 7,118 Shares of Stock

Haemonetics Corporation (NYSE:HAE) Director Mark W. Kroll sold 7,118 shares of Haemonetics stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $63.00, for a total value of $448,434.00. Following the transaction, the director now directly owns 33,881 shares in the company, valued at approximately $2,134,503. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Haemonetics Corporation (NYSE:HAE) traded up $0.44 during trading hours on Thursday, hitting $63.83. The company had a trading volume of 361,700 shares, compared to its average volume of 547,057. The company has a market cap of $3,370.00, a price-to-earnings ratio of 911.86, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 2.17. Haemonetics Corporation has a 12 month low of $36.44 and a 12 month high of $63.90.

Haemonetics (NYSE:HAE) last announced its earnings results on Tuesday, November 7th. The medical instruments supplier reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $219.12 million. Haemonetics had a return on equity of 11.16% and a net margin of 0.50%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. sell-side analysts predict that Haemonetics Corporation will post 1.7 EPS for the current fiscal year.

Several research firms have weighed in on HAE. Zacks Investment Research cut Haemonetics from a “buy” rating to a “hold” rating in a research report on Wednesday. Craig Hallum reissued a “hold” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. Barrington Research boosted their target price on Haemonetics from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Jefferies Group boosted their target price on Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Finally, Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Haemonetics presently has a consensus rating of “Hold” and an average price target of $58.83.

Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of Haemonetics by 377.6% in the 3rd quarter. GSA Capital Partners LLP now owns 44,210 shares of the medical instruments supplier’s stock worth $1,984,000 after purchasing an additional 34,953 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Haemonetics by 10.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after purchasing an additional 189,797 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Haemonetics by 9.2% in the 3rd quarter. California Public Employees Retirement System now owns 100,558 shares of the medical instruments supplier’s stock worth $4,512,000 after purchasing an additional 8,458 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Haemonetics by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,256 shares of the medical instruments supplier’s stock worth $2,300,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Haemonetics by 31.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,677 shares of the medical instruments supplier’s stock valued at $389,000 after acquiring an additional 2,082 shares during the period.

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About Haemonetics

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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