Haemonetics Corp 's (NYSE:HAE) Executive Vice President of Global Manufacturing, Josep Llorens, has recently executed a sale of company shares, according to the latest SEC filings. On May 16, 2024, Llorens sold 770 shares at a price of $96.14 each, totaling $74,027. This transaction was carried out under a pre-arranged 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks at a specific time.
In addition to the sale, the filing also revealed that Llorens had shares withheld for tax obligations linked to the vesting of restricted stock units (RSUs). Specifically, on May 15 and 16, a total of 521 shares were withheld to satisfy tax obligations, at prices ranging from $94.80 to $96.49, amounting to $49,826. These transactions were related to RSUs that had been previously reported.
Following these transactions, Llorens still holds a significant number of shares in the company, including unvested RSUs. As reported in the SEC filing, after the sales and withholdings, Llorens's ownership in Haemonetics Corp stands at 17,172 shares.
Haemonetics Corp, based in Boston, Massachusetts, specializes in the development and manufacturing of products in the surgical and medical instruments sector. The company is known for its innovative solutions in blood and plasma services and technologies.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's view of the company's future performance. However, it is also common for executives to sell shares for personal financial planning or to diversify their investment portfolios.
The transactions were conducted in accordance with SEC rules and regulations, and full details of the trades have been disclosed in the mandatory SEC Form 4 filing.
InvestingPro Insights
Amid the recent insider trading activity, Haemonetics Corp (NYSE:HAE) presents a mixed picture to investors, as reflected in the latest data and analysis from InvestingPro. With a market capitalization of $4.85 billion, Haemonetics trades at a high earnings multiple, showing a P/E ratio of 40.97, which is adjusted to 34.59 for the last twelve months as of Q4 2024. This indicates that the stock may be priced optimistically relative to its earnings.
However, the company's financial health appears robust. Haemonetics has demonstrated an ability to cover its interest payments with its cash flows, and its liquid assets are more than sufficient to meet short-term obligations. These indicators are critical for investors assessing the company's resilience in meeting financial challenges.
From a performance standpoint, the stock has been trading near its 52-week high, with the price as of the previous close at $94.8, representing 97.72% of this peak. This proximity to the high point is complemented by a strong return over the last three months, with a 31.01% price total return in that period. This performance may interest investors looking for stocks with positive momentum.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available, which include revised earnings estimates by analysts and insights into the company's trading patterns. Prospective and current investors can use these tips to better understand the potential risks and rewards associated with Haemonetics. For those interested, there are a total of 11 InvestingPro Tips available, which can be accessed at InvestingPro's dedicated Haemonetics page: https://www.investing.com/pro/HAE. Remember, using the coupon code PRONEWS24 will grant an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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