Connor Clark & Lunn Investment Management Ltd. Acquires 179,621 Shares of Haemonetics Co. (NYSE:HAE)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Haemonetics Co. (NYSE:HAE - Free Report) by 439.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,453 shares of the medical instruments supplier's stock after acquiring an additional 179,621 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.43% of Haemonetics worth $17,720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HAE. Quarry LP acquired a new position in shares of Haemonetics in the second quarter valued at $39,000. Covestor Ltd raised its stake in shares of Haemonetics by 184.8% in the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier's stock valued at $58,000 after purchasing an additional 438 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Haemonetics in the second quarter valued at $82,000. Canada Pension Plan Investment Board acquired a new position in shares of Haemonetics in the second quarter valued at $83,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Haemonetics in the first quarter valued at $86,000. 99.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JMP Securities restated a "market outperform" rating and issued a $125.00 target price on shares of Haemonetics in a research note on Tuesday, August 13th. Citigroup dropped their price objective on Haemonetics from $94.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, August 22nd. Bank of America began coverage on Haemonetics in a research note on Wednesday, September 11th. They set a "neutral" rating and a $85.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $112.00 price objective on shares of Haemonetics in a research note on Friday, November 15th. Finally, CL King began coverage on Haemonetics in a research note on Friday, September 13th. They set a "buy" rating and a $116.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $107.88.

Haemonetics Price Performance

Shares of HAE stock traded up $1.08 during trading hours on Thursday, hitting $86.00. 91,296 shares of the company's stock were exchanged, compared to its average volume of 554,924. The stock's 50-day moving average is $78.32 and its 200-day moving average is $82.53. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.32 and a beta of 0.32. Haemonetics Co. has a 52 week low of $70.25 and a 52 week high of $97.97. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.49 and a quick ratio of 2.09.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.03. The firm had revenue of $345.50 million during the quarter, compared to analyst estimates of $342.57 million. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company's revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. As a group, research analysts forecast that Haemonetics Co. will post 4.59 EPS for the current 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.