Allspring Global Investments Holdings LLC raised its position in Haemonetics Co. (NYSE:HAE - Free Report) by 75.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 795,381 shares of the medical instruments supplier's stock after purchasing an additional 343,214 shares during the period. Allspring Global Investments Holdings LLC owned 1.56% of Haemonetics worth $63,933,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new stake in Haemonetics during the 2nd quarter worth approximately $39,000. Covestor Ltd increased its stake in 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 during the period. Daiwa Securities Group Inc. purchased a new position in shares of Haemonetics in the 2nd quarter valued at approximately $82,000. Canada Pension Plan Investment Board acquired a new position in Haemonetics in the 2nd quarter valued at $83,000. Finally, EntryPoint Capital LLC acquired a new position in Haemonetics during the 1st quarter worth approximately $86,000. 99.67% of the stock is owned by institutional investors and hedge funds.
Haemonetics Price Performance
Shares of Haemonetics stock traded down $0.43 during mid-day trading on Tuesday, reaching $74.44. 487,163 shares of the stock were exchanged, compared to its average volume of 537,394. Haemonetics Co. has a fifty-two week low of $70.74 and a fifty-two week high of $97.97. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.19 and a beta of 0.30. The company has a current ratio of 3.76, a quick ratio of 2.33 and a debt-to-equity ratio of 1.35. The firm has a 50-day simple moving average of $75.66 and a 200 day simple moving average of $83.49.
Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.01). The firm had revenue of $336.17 million during the quarter, compared to analyst estimates of $335.08 million. Haemonetics had a net margin of 8.61% and a return on equity of 21.86%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, sell-side analysts predict that Haemonetics Co. will post 4.57 EPS for the current fiscal year.
Insiders Place Their Bets
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 value of $393,038.80. Following the sale, the insider now owns 18,196 shares of the company's stock, valued at $1,658,565.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on the company. BTIG Research initiated 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. Bank of America initiated coverage on shares of Haemonetics in a research note on Wednesday, September 11th. They issued a "neutral" rating and a $85.00 price target for the company. Citigroup lowered their target price on Haemonetics from $94.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, August 22nd. JMP Securities restated a "market outperform" rating and set a $125.00 price objective on shares of Haemonetics in a research note on Tuesday, August 13th. Finally, CL King began coverage on Haemonetics in a report on Friday, September 13th. They set a "buy" rating and a $116.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.14.
View Our Latest Stock Analysis on HAE
Haemonetics Profile
(
Free Report)
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.
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