Haemonetics Corp (NYSE:HAE) executive vice president and general counsel, Michelle L. Basil, has sold shares worth over $94,000 according to the latest SEC filings. The transactions, which took place on May 16, involved the sale of 985 shares at an average price of $96.14.
The transactions were part of a prearranged trading plan under Rule 10b5-1, which allows company insiders to set up a trading plan for selling stocks they own. Rule 10b5-1 plans provide insiders the ability to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading.
In addition to the sale, the filing also showed that shares were withheld for tax obligations in connection with the vesting of restricted stock units (RSUs) for Basil. Specifically, 416 shares were withheld on May 15 at a price of $96.49, and 446 shares on May 16 at a price of $94.80, totaling approximately $82,420 in transactions.
After the reported transactions, Basil's ownership in Haemonetics includes unvested RSUs, with a total of 30,425 shares remaining in her direct ownership.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health or the executive's confidence in the company's future performance. Haemonetics Corp, a global healthcare company, specializes in products related to blood and plasma collection and processing.
The disclosed insider transactions provide a glimpse into the financial moves of one of Haemonetics' top executives, offering investors additional data points to consider as they assess the company's stock performance and future outlook.
InvestingPro Insights
As Haemonetics Corp (NYSE:HAE) makes the headlines with insider stock transactions, investors are keen to understand the broader financial landscape of the company. A glance at the real-time metrics from InvestingPro reveals a company with a strong market presence and recent performance. The company's market capitalization stands at a solid $4.85 billion, indicating a significant market valuation for this healthcare sector player.
However, the company's P/E ratio, a measure of its current share price relative to its per-share earnings, is on the higher end at 40.97, suggesting that investors are paying a premium for the earnings power of Haemonetics. This is further underlined by the company's adjusted P/E ratio for the last twelve months as of Q4 2024, which is slightly lower at 34.59, yet still indicates a high earnings multiple. In line with this, one of the InvestingPro Tips points out that Haemonetics is trading at a high P/E ratio relative to near-term earnings growth, which could be a signal for investors to consider the company's growth prospects against its current valuation.
Moving to performance, Haemonetics has demonstrated a strong return over the last three months, with a price total return of 31.01%, as noted in the InvestingPro Data. This robust short-term performance is a potential indicator of market confidence and momentum. Moreover, the company's stock is trading near its 52-week high, at 97.72% of this peak value, which could be a testament to the positive sentiment surrounding Haemonetics in the market.
For a more comprehensive analysis, investors can explore additional InvestingPro Tips for Haemonetics at https://www.investing.com/pro/HAE. There are currently 11 additional tips available, offering deeper insights into the company's financial health and stock performance. And for those looking to upgrade their investment tools, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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