Haemonetics (NYSE:HAE) Stock Price Down 6.7% After Insider Selling

Haemonetics Co. (NYSE:HAE) shares fell 6.7% during trading on Thursday following insider selling activity. The stock traded as low as $86.81 and last traded at $87.02. 212,865 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 455,834 shares. The stock had previously closed at $93.25.

Specifically, EVP Anila Lingamneni sold 2,305 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $95.00, for a total transaction of $218,975.00. Following the completion of the sale, the executive vice president now owns 12,295 shares of the company’s stock, valued at approximately $1,168,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TheStreet downgraded shares of Haemonetics from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. StockNews.com cut Haemonetics from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Barrington Research restated an “outperform” rating and set a $105.00 price target on shares of Haemonetics in a research note on Friday, April 12th.

Haemonetics Stock Down 4.0 %

The stock’s fifty day moving average is $83.59 and its two-hundred day moving average is $82.81. The firm has a market cap of $4.55 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. The company has a current ratio of 2.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91.

Haemonetics (NYSE:HAE) last posted its earnings results on Thursday, February 8th. The medical instruments supplier reported $1.04 EPS for the quarter, topping the consensus estimate of $0.94 by $0.10. Haemonetics had a return on equity of 22.37% and a net margin of 9.97%. The business had revenue of $336.20 million during the quarter, compared to analysts’ expectations of $320.84 million. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Haemonetics Co. will post 3.95 earnings per share for the current year.

Hedge Funds Weigh In On Haemonetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Haemonetics during the 4th quarter valued at approximately $28,591,000. Allspring Global Investments Holdings LLC raised its position in Haemonetics by 132.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 502,993 shares of the medical instruments supplier’s stock valued at $42,930,000 after purchasing an additional 286,897 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Haemonetics by 27.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 712,061 shares of the medical instruments supplier’s stock valued at $60,888,000 after purchasing an additional 152,098 shares during the last quarter. Victory Capital Management Inc. raised its position in Haemonetics by 50.0% during the 3rd quarter. Victory Capital Management Inc. now owns 357,303 shares of the medical instruments supplier’s stock valued at $32,007,000 after purchasing an additional 119,072 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new position in Haemonetics during the 3rd quarter valued at approximately $9,952,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Haemonetics Company Profile

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 intravenous 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.