Cornercap Investment Counsel Inc. Decreases Holdings in Haemonetics Co. (NYSE:HAE)

Cornercap Investment Counsel Inc. reduced its holdings in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 61.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,985 shares of the medical instruments supplier's stock after selling 9,487 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Haemonetics were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in HAE. TFO Wealth Partners LLC grew its position in shares of Haemonetics by 29,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier's stock valued at $51,000 after acquiring an additional 589 shares during the period. Covestor Ltd grew its stake in Haemonetics by 184.8% during the first quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier's stock valued at $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Haemonetics in the second quarter worth about $82,000. EntryPoint Capital LLC purchased a new stake in shares of Haemonetics during the 1st quarter worth approximately $86,000. Finally, Headlands Technologies LLC purchased a new position in shares of Haemonetics in the 1st quarter worth $114,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HAE. BTIG Research started coverage on shares of Haemonetics in a research report on Tuesday, September 10th. They set a "buy" rating and a $112.00 price objective on the stock. CL King initiated coverage on shares of Haemonetics in a research report on Friday. They issued a "buy" rating and a $116.00 price target for the company. Bank of America started coverage on Haemonetics in a report on Wednesday. They set a "neutral" rating and a $85.00 target price for the company. Barrington Research raised their target price on shares of Haemonetics from $107.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Finally, Citigroup reduced their price target on Haemonetics from $94.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $106.14.

Insider Transactions at Haemonetics

In related news, insider Stewart W. Strong sold 4,312 shares of the business's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $91.15, for a total transaction of $393,038.80. Following the completion of the transaction, the insider now directly owns 18,196 shares in the company, valued at $1,658,565.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Anila Lingamneni sold 2,136 shares of the firm's stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $90.00, for a total transaction of $192,240.00. Following the sale, the executive vice president now owns 21,410 shares in the company, valued at $1,926,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stewart W. Strong sold 4,312 shares of Haemonetics stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $91.15, for a total value of $393,038.80. Following the completion of the transaction, the insider now owns 18,196 shares of the company's stock, valued at approximately $1,658,565.40. The disclosure for this sale can be found here. Company insiders own 1.80% of the company's stock.

Haemonetics Stock Performance

Shares of HAE traded up $2.83 during trading hours on Friday, reaching $76.09. 670,561 shares of the company traded hands, compared to its average volume of 535,663. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average price of $81.38 and a 200-day moving average price of $84.03. Haemonetics Co. has a 12-month low of $70.74 and a 12-month high of $97.97. The stock has a market capitalization of $3.89 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.32 and a beta of 0.30.

Haemonetics (NYSE:HAE - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The firm had revenue of $336.17 million for the quarter, compared to analysts' expectations of $335.08 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts anticipate that Haemonetics Co. will post 4.58 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.