Haemonetics Co. (NYSE:HAE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 99.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,933 shares of the medical instruments supplier's stock after selling 12,518,398 shares during the quarter. Bank of Montreal Can's holdings in Haemonetics were worth $619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in Haemonetics by 9.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,068 shares of the medical instruments supplier's stock valued at $3,753,000 after purchasing an additional 4,217 shares in the last quarter. Riverwater Partners LLC increased its position in shares of Haemonetics by 12.4% in the 4th quarter. Riverwater Partners LLC now owns 50,379 shares of the medical instruments supplier's stock valued at $3,934,000 after acquiring an additional 5,538 shares during the period. Groupama Asset Managment acquired a new position in shares of Haemonetics in the 4th quarter valued at $19,520,000. May Hill Capital LLC purchased a new position in Haemonetics in the 4th quarter worth $1,399,000. Finally, Pictet Asset Management Holding SA lifted its position in Haemonetics by 16.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,963 shares of the medical instruments supplier's stock worth $544,000 after acquiring an additional 979 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HAE shares. Bank of America lowered Haemonetics from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $95.00 to $68.00 in a report on Friday, February 7th. StockNews.com downgraded shares of Haemonetics from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Barrington Research decreased their price objective on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. JMP Securities dropped their price objective on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC reduced their target price on shares of Haemonetics from $108.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Haemonetics has a consensus rating of "Moderate Buy" and an average price target of $101.22.

Haemonetics Stock Performance

NYSE HAE traded down $0.31 during mid-day trading on Friday, reaching $61.62. 47,458 shares of the stock were exchanged, compared to its average volume of 688,659. Haemonetics Co. has a 1 year low of $55.30 and a 1 year high of $97.97. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97. The business's 50 day moving average is $62.86 and its 200-day moving average is $72.25. The company has a market capitalization of $3.10 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.11 and a beta of 0.41.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. On average, equities research analysts forecast that Haemonetics Co. will post 4.55 EPS for the current fiscal year.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.