Acadian Asset Management LLC raised its holdings in Haemonetics Co. (NYSE:HAE) by 100.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 524,768 shares of the medical instruments supplier’s stock after acquiring an additional 263,432 shares during the quarter. Acadian Asset Management LLC owned 0.99% of Haemonetics worth $30,479,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Haemonetics by 1.0% in the second quarter. Vanguard Group Inc. now owns 4,743,044 shares of the medical instruments supplier’s stock valued at $187,303,000 after acquiring an additional 48,719 shares during the period. Victory Capital Management Inc. raised its stake in shares of Haemonetics by 18.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,414,526 shares of the medical instruments supplier’s stock worth $108,340,000 after buying an additional 381,012 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Haemonetics by 10.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,053,458 shares of the medical instruments supplier’s stock worth $92,139,000 after buying an additional 189,797 shares during the last quarter. HealthCor Management L.P. raised its stake in shares of Haemonetics by 15.9% during the 2nd quarter. HealthCor Management L.P. now owns 1,854,872 shares of the medical instruments supplier’s stock worth $73,249,000 after buying an additional 254,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Haemonetics by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,739,734 shares of the medical instruments supplier’s stock worth $68,702,000 after buying an additional 40,381 shares during the last quarter.
Several research analysts have recently issued reports on HAE shares. Zacks Investment Research raised Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, January 9th. Jefferies Group lifted their price target on Haemonetics from $18.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. TheStreet downgraded Haemonetics from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Morgan Stanley lifted their price target on Haemonetics from $43.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $50.00 price target (up previously from $40.00) on shares of Haemonetics in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $71.33.
Haemonetics Co. (NYSE HAE) traded down $0.17 on Friday, reaching $68.70. The company’s stock had a trading volume of 841,253 shares, compared to its average volume of 439,760. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.14. Haemonetics Co. has a 52 week low of $37.07 and a 52 week high of $72.33. The stock has a market cap of $3,671.88, a PE ratio of -202.05, a price-to-earnings-growth ratio of 3.40 and a beta of 1.06.
Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.18. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. The business had revenue of $234.04 million during the quarter, compared to analysts’ expectations of $227.79 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. equities research analysts predict that Haemonetics Co. will post 1.87 EPS for the current year.
Haemonetics declared that its board has approved a stock repurchase program on Tuesday, February 6th that authorizes the company to buyback $260.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other news, CFO Willaim P. Burke sold 13,193 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $54.04, for a total transaction of $712,949.72. Following the completion of the sale, the chief financial officer now owns 27,227 shares in the company, valued at approximately $1,471,347.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Goldstein sold 4,691 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $54.93, for a total value of $257,676.63. Following the sale, the chief accounting officer now owns 3,747 shares of the company’s stock, valued at approximately $205,822.71. The disclosure for this sale can be found here. Insiders have sold a total of 37,560 shares of company stock valued at $2,133,607 in the last quarter. Company insiders own 1.20% of the company’s stock.
Haemonetics Company Profile
Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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