The Manufacturers Life Insurance Company Has $25.45 Million Stock Position in Haemonetics Co. (NYSE:HAE)

The Manufacturers Life Insurance Company lifted its holdings in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 327.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,564 shares of the medical instruments supplier's stock after purchasing an additional 235,535 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.60% of Haemonetics worth $25,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TFO Wealth Partners LLC increased its position in shares of Haemonetics by 29,450.0% in the fourth quarter. TFO Wealth Partners LLC now owns 591 shares of the medical instruments supplier's stock worth $51,000 after acquiring an additional 589 shares in the last quarter. Covestor Ltd lifted its position in Haemonetics by 184.8% during the 1st quarter. Covestor Ltd now owns 675 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 438 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Haemonetics in the 2nd quarter worth approximately $82,000. Canada Pension Plan Investment Board purchased a new stake in shares of Haemonetics during the second quarter valued at approximately $83,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Haemonetics in the first quarter valued at $86,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Haemonetics Price Performance

Haemonetics stock traded up $0.31 during mid-day trading on Wednesday, hitting $79.31. The company's stock had a trading volume of 347,241 shares, compared to its average volume of 544,993. Haemonetics Co. has a twelve month low of $70.74 and a twelve month high of $97.97. The stock's fifty day moving average price is $78.48 and its two-hundred day moving average price is $84.07. The stock has a market capitalization of $4.04 billion, a P/E ratio of 34.50, a P/E/G ratio of 1.19 and a beta of 0.30. The company has a quick ratio of 2.33, a current ratio of 3.76 and a debt-to-equity ratio of 1.35.

Haemonetics (NYSE:HAE - Get Free Report) last announced its earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). The company had revenue of $336.17 million for the quarter, compared to analysts' expectations of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. Research analysts forecast that Haemonetics Co. will post 4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HAE. BTIG Research assumed coverage on Haemonetics in a research report on Tuesday, September 10th. They set a "buy" rating and a $112.00 target price on the stock. Barrington Research reiterated an "outperform" rating and set a $108.00 price objective on shares of Haemonetics in a research note on Monday, September 23rd. CL King started coverage on Haemonetics in a research report on Friday, September 13th. They issued a "buy" rating and a $116.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Haemonetics in a research report on Tuesday, August 13th. Finally, Citigroup lowered 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $106.14.

Insider Buying and Selling

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

Haemonetics Company 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.