Haemonetics (NYSE:HAE) Sees Large Volume Increase

Shares of Haemonetics Co. (NYSE:HAE) saw unusually-high trading volume on Thursday . Approximately 501,436 shares were traded during trading, an increase of 7% from the previous session’s volume of 468,262 shares.The stock last traded at $89.85 and had previously closed at $90.09.

Analyst Upgrades and Downgrades

HAE has been the topic of a number of research reports. StockNews.com lowered Haemonetics from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Barrington Research boosted their target price on Haemonetics from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Haemonetics in a report on Friday, May 10th. JMP Securities increased their target price on shares of Haemonetics from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Friday, May 10th. Finally, TheStreet downgraded shares of Haemonetics from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.67.

Haemonetics Stock Down 1.9 %

The company has a market cap of $4.49 billion, a price-to-earnings ratio of 38.97, a P/E/G ratio of 1.69 and a beta of 0.34. The firm has a 50-day moving average price of $87.25 and a 200 day moving average price of $83.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.56 and a quick ratio of 1.50.

Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. Haemonetics had a return on equity of 22.25% and a net margin of 8.98%. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $329.53 million. During the same quarter last year, the business earned $0.77 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Haemonetics Co. will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other Haemonetics news, EVP Josep Llorens sold 822 shares of Haemonetics stock in a transaction on Friday, May 17th. The stock was sold at an average price of $94.82, for a total value of $77,942.04. Following the completion of the transaction, the executive vice president now directly owns 16,350 shares of the company’s stock, valued at approximately $1,550,307. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stewart W. Strong sold 733 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $96.04, for a total value of $70,397.32. Following the completion of the transaction, the insider now owns 15,608 shares of the company’s stock, valued at approximately $1,498,992.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Josep Llorens sold 822 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $94.82, for a total transaction of $77,942.04. Following the completion of the sale, the executive vice president now owns 16,350 shares in the company, valued at approximately $1,550,307. The disclosure for this sale can be found here. Insiders have sold a total of 5,533 shares of company stock worth $526,404 in the last quarter. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in Haemonetics by 17.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the medical instruments supplier’s stock worth $90,000 after buying an additional 156 shares during the period. Riverwater Partners LLC grew its stake in Haemonetics by 1.5% during the fourth quarter. Riverwater Partners LLC now owns 15,784 shares of the medical instruments supplier’s stock worth $1,350,000 after purchasing an additional 231 shares during the period. Arizona State Retirement System increased its holdings in Haemonetics by 1.7% in the third quarter. Arizona State Retirement System now owns 14,407 shares of the medical instruments supplier’s stock worth $1,291,000 after purchasing an additional 237 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Haemonetics by 7.4% during the 4th quarter. Contravisory Investment Management Inc. now owns 3,507 shares of the medical instruments supplier’s stock worth $300,000 after buying an additional 242 shares in the last quarter. Finally, LVZ Inc. increased its stake in shares of Haemonetics by 9.4% in the 4th quarter. LVZ Inc. now owns 3,006 shares of the medical instruments supplier’s stock valued at $257,000 after acquiring an additional 259 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

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.