Haemonetics Corp (NYSE:HAE) has reported recent stock transactions by EVP of Global Manufacturing, Josep Llorens, who sold shares of the company in two separate transactions. On May 17 and May 20, Llorens sold a total of 1,809 shares at prices ranging from $94.82 to $95.08, for a cumulative value exceeding $171,000.
The transactions, which were executed under a prearranged 10b5-1 trading plan, were disclosed in a regulatory filing with the Securities and Exchange Commission. The plan, dated August 28, 2023, was fully executed by August 31, 2023, indicating that the sales were planned well in advance.
In addition to the sales, the filing also revealed that 320 shares were withheld for tax obligations associated with the vesting of restricted stock units (RSUs). These shares were valued at $95.73 each, totaling approximately $30,633.
Furthermore, the executive was awarded RSUs as part of the company's long-term incentive plan, which vest fully on the first anniversary of the grant date. Although the exact number of shares and the price per share for these awards were not disclosed, they represent a contingent right to receive shares of the issuer's common stock upon vesting.
Following these transactions, Llorens still maintains a significant stake in the company, including unvested RSUs. Investors often monitor insider selling and buying as it can provide insights into an executive’s view of the company's future prospects. However, sales under 10b5-1 trading plans are scheduled in advance to avoid any concerns about trading on non-public information.
Haemonetics Corp specializes in the development and distribution of products in the field of surgical and medical instruments and apparatus. The company's stock transactions are closely watched by investors seeking to understand the actions of its top executives.
InvestingPro Insights
As Haemonetics Corp (NYSE:HAE) navigates the market, recent financial metrics and analyst insights from InvestingPro provide a clearer picture of the company's current standing. With a market capitalization of approximately $4.74 billion and a P/E ratio standing at 40.47, the company presents a significant valuation. Interestingly, the P/E ratio adjusted for the last twelve months as of Q4 2024 drops to 33.17, suggesting a potential shift in earnings expectations over time.
InvestingPro Tips indicate that Haemonetics is trading at a high earnings multiple and a high P/E ratio relative to near-term earnings growth, which might concern value-focused investors. Additionally, while the company does not pay a dividend to shareholders, it has been highlighted for its high shareholder yield, which could be an attractive feature for those seeking companies with the potential to return value to shareholders in forms other than dividends.
On the performance front, Haemonetics has experienced a strong return over the last three months, with a 27.19% increase. This is particularly noteworthy as it aligns with the company trading near its 52-week high, with the price at 95.12% of this peak. This could signal robust investor confidence or a possible caution for those wary of buying at high valuations.
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