Haemonetics Corporation (NYSE:HAE) has disclosed in a recent SEC filing that Stewart W. Strong, the company's President of Global Hospital, engaged in multiple transactions involving the company's common stock. On May 20, Strong sold shares totaling $147,849 at an average price of $95.08 and bought shares worth $126,773 at an average price of $56.57.
The series of transactions began on May 17, when Strong disposed of 284 shares through a transaction coded as a tax-related disposition, with a total value of $27,187 at a price of $95.73 per share. This was followed by the acquisition of 2,872 shares, which are reported as restricted stock units (RSUs) that will vest over time. The RSUs were granted as part of the company's long-term incentive plan and do not have a transaction price associated with them.
On May 20, Strong exercised options to acquire 2,241 shares of Haemonetics stock at a price of $56.57, amounting to $126,773. The same day, he also disposed of 1,555 shares to cover tax obligations and the exercise price of stock options, with a total transaction value of $147,849 at a price of $95.08 per share. Additionally, Strong sold 686 shares on the open market at an average price of $95.11, totaling $65,245.
The transactions were executed in accordance with a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying and selling stock to avoid accusations of trading on insider information. The plan was fully executed as of June 12, 2023.
Following these transactions, Strong's direct holdings in Haemonetics stock have changed, as reflected in the SEC filing. The filing also includes footnotes indicating that some shares were withheld for tax obligations in connection with the vesting of RSUs and for the payment of the exercise price on exercised stock options.
Investors and followers of Haemonetics Corporation can access the full details of these transactions through the SEC's EDGAR database, which provides public filings of securities transactions by company insiders.
InvestingPro Insights
As Haemonetics Corporation (NYSE:HAE) navigates through its executive's recent stock transactions, investors may be looking for additional context to understand the company's financial health and market performance. Here are some key InvestingPro Data metrics and InvestingPro Tips that provide a snapshot of Haemonetics' current standing:
InvestingPro Data shows Haemonetics with a market capitalization of $4.74 billion and a P/E ratio standing at 40.47, suggesting that the stock is trading at a high earnings multiple. The company's revenue for the last twelve months as of Q4 2024 is reported at $1.309 billion, indicating a solid revenue growth of 12.01%. This growth is consistent with the company's gross profit margin of 54.13%, reflecting efficient operations and a strong market position.
Investors should note that Haemonetics is trading near its 52-week high, at 95.12% of this peak, which aligns with a strong return over the last three months of 27.19%. This performance is a testament to the company's robust financials and the market's positive reception to its strategic initiatives.
InvestingPro Tips highlight that Haemonetics has a high shareholder yield and that cash flows can sufficiently cover interest payments, suggesting a healthy financial structure. However, it's important to note that 4 analysts have revised their earnings downwards for the upcoming period, which could signal potential headwinds or a conservative outlook moving forward. Additionally, the company operates with a moderate level of debt, which is generally considered a prudent financial practice.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/HAE. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights that can inform their investment decisions. In total, there are 14 InvestingPro Tips listed for Haemonetics, ranging from stock volatility to profitability predictions, providing a comprehensive view of the company's financial landscape.
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