Capital Research Global Investors Decreases Stake in Haemonetics Co. (NYSE:HAE)

Capital Research Global Investors lowered its stake in Haemonetics Co. (NYSE:HAE - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,238,954 shares of the medical instruments supplier's stock after selling 203,699 shares during the period. Capital Research Global Investors owned approximately 8.44% of Haemonetics worth $330,978,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Covestor Ltd raised its position in Haemonetics by 146.8% during the 4th quarter. Covestor Ltd now owns 738 shares of the medical instruments supplier's stock worth $58,000 after buying an additional 439 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Haemonetics during the fourth quarter worth about $62,000. Parkside Financial Bank & Trust raised its holdings in Haemonetics by 25.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,176 shares of the medical instruments supplier's stock worth $92,000 after purchasing an additional 240 shares in the last quarter. AlphaQuest LLC lifted its position in Haemonetics by 36,520.0% in the fourth quarter. AlphaQuest LLC now owns 1,831 shares of the medical instruments supplier's stock valued at $143,000 after purchasing an additional 1,826 shares during the period. Finally, KBC Group NV boosted its holdings in Haemonetics by 54.6% in the 4th quarter. KBC Group NV now owns 2,016 shares of the medical instruments supplier's stock valued at $157,000 after purchasing an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Price Performance

Haemonetics stock traded up $1.55 during midday trading on Thursday, reaching $61.89. 413,782 shares of the company were exchanged, compared to its average volume of 689,403. The firm's 50-day simple moving average is $62.87 and its 200-day simple moving average is $72.36. Haemonetics Co. has a 1 year low of $55.30 and a 1 year high of $97.97. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.11 and a beta of 0.41. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.55 and a current ratio of 3.97.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HAE shares. StockNews.com downgraded Haemonetics from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Bank of America downgraded Haemonetics from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $95.00 to $68.00 in a report on Friday, February 7th. Raymond James restated a "strong-buy" rating and set a $115.00 target price (down from $120.00) on shares of Haemonetics in a research report on Friday, February 7th. Needham & Company LLC cut their price target 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. Finally, JMP Securities dropped their price objective on Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Haemonetics presently has a consensus rating of "Moderate Buy" and an average target price of $101.22.

Haemonetics Profile

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.