Stewart W. Strong, President of Global Hospital at Haemonetics Corp (NYSE:HAE), has recently sold shares of the company's stock, according to a new SEC filing. The transactions, which occurred on May 15 and 16, 2024, involved the sale of 733 shares at a price of $96.04, amounting to a total of $70,397.
In addition to the sale, Strong also engaged in transactions that withheld shares to cover tax obligations. These transactions, labeled as "F" transactions in the filing, totaled $47,143, with prices ranging from $94.80 to $96.49 per share. Specifically, 241 shares were withheld on May 15, and another 252 shares were withheld on May 16. Furthermore, 1,677 shares were withheld on May 16 in connection with the vesting of certain restricted stock units and for payment of the exercise price on exercised stock options.
On the same dates, Strong also exercised options to acquire 2,410 shares of Haemonetics Corp common stock at a price of $57.60 per share, under a pre-existing trading plan. The total value for these "M" transactions amounted to $138,816. These shares were then partly used to cover the aforementioned tax obligations and exercise price, which is reflected in the "F(3)" transactions totaling $161,226.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's stock value and future performance. However, such transactions are also subject to strict regulations and are often scheduled in advance to avoid any potential conflicts of interest or insider trading accusations.
Haemonetics Corp, headquartered in Boston, Massachusetts, specializes in surgical and medical instruments and apparatus. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol HAE.
InvestingPro Insights
As Haemonetics Corp (NYSE:HAE) navigates through its corporate activities, investors are keenly observing the company's financial health and market performance. According to InvestingPro, the company is currently trading at a high earnings multiple, with a P/E ratio of 40.97, suggesting that the stock may be valued ambitiously by the market relative to its earnings. This is further emphasized by a PEG ratio of 18.21 over the last twelve months as of Q4 2024, indicating that the price may be steep compared to near-term earnings growth.
Despite the high multiples, Haemonetics Corp's stock has shown resilience in terms of price stability. The company is known to trade with low price volatility, which might appeal to investors looking for less turbulent stocks. Additionally, the company's liquid assets exceed its short-term obligations, which is a positive sign of financial robustness.
From a performance standpoint, Haemonetics Corp has enjoyed a strong return over the last three months, with a price total return of 31.01%. This performance is particularly noteworthy as it trades near its 52-week high, at 97.72% of this peak value. The market cap of the company stands at 4850M USD, reflecting its considerable size in the medical instruments sector.
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