Haemonetics Corp (NYSE:HAE) EVP and General Counsel, Michelle L. Basil, has sold a total of 12,990 shares of company stock valued at over $1.1 million, according to a recent SEC filing. The transactions, carried out under a pre-arranged trading plan, occurred on May 29, 2024, with prices ranging from $87.86 to $88.57 per share.
The sale was executed through a series of transactions at varying prices. For a portion of the shares, Basil received an average price of $87.86, with individual sales ranging from $87.28 to $88.28. The remaining shares were sold at an average price of $88.57, within a price range of $88.29 to $88.92. In total, the sales amounted to approximately $1,144,208.
In addition to the sales, the SEC filing also disclosed that Basil had acquired 24,748 shares as part of a performance share unit (PSU) award. These shares were earned based on Haemonetics' shareholder return relative to the S&P MidCap 400 Index over a three-year period, as determined by the company's Compensation Committee.
Furthermore, the report includes Basil's disposal of 11,758 shares, valued at $95.73 each, to cover tax obligations associated with the vesting of the PSUs. This transaction, which is not a market sale, amounted to a total of $1,125,593.
Following these transactions, Basil's direct ownership in Haemonetics Corp includes a combination of vested and unvested shares, with the total number of shares owned being adjusted accordingly in the filing.
Investors and stakeholders often monitor insider transactions as they can provide insights into executives' perspectives on the company's performance and outlook. The disclosed sales and acquisitions are part of the regular financial activities of corporate executives, and are reported in compliance with SEC regulations.
InvestingPro Insights
As Haemonetics Corp (NYSE:HAE) experiences insider stock transactions, it's insightful to look at the company's financial metrics and performance. According to real-time data from InvestingPro, Haemonetics boasts a market capitalization of $4.45 billion. Despite the insider sales, the company's stock has shown a strong return over the last three months, with a 19.87% price total return, highlighting a positive trend in investor sentiment.
The company's P/E ratio stands at a high 37.97, indicating that the stock is trading at a significant earnings multiple. This aligns with one of the InvestingPro Tips, which suggests that Haemonetics is trading at a high P/E ratio relative to near-term earnings growth. Additionally, the company has shown a robust revenue growth of 12.01% over the last twelve months as of Q4 2024, which may be a factor in the stock's recent performance.
Another InvestingPro Tip worth noting is that Haemonetics has liquid assets that exceed short-term obligations, suggesting a solid liquidity position. This could provide some reassurance to investors concerned about the company's ability to meet its immediate financial commitments.
For investors looking for a deeper dive into Haemonetics' financials and future projections, InvestingPro offers a wealth of additional tips. There are currently 9 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/HAE. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable insights that can inform investment decisions.
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