Principal Financial Group Inc. Reduces Stock Holdings in Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. trimmed its holdings in Haemonetics Co. (NYSE:HAE - Free Report) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,259 shares of the medical instruments supplier's stock after selling 37,433 shares during the quarter. Principal Financial Group Inc. owned about 0.30% of Haemonetics worth $12,480,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in Haemonetics by 117.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 56,164 shares of the medical instruments supplier's stock valued at $4,514,000 after purchasing an additional 30,389 shares in the last quarter. F M Investments LLC acquired a new stake in Haemonetics during the third quarter valued at approximately $8,237,000. Nisa Investment Advisors LLC boosted its holdings in Haemonetics by 124.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,141 shares of the medical instruments supplier's stock worth $92,000 after buying an additional 632 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Haemonetics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 5,880 shares of the medical instruments supplier's stock valued at $472,000 after buying an additional 400 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Haemonetics by 13.8% during the 3rd quarter. Boston Trust Walden Corp now owns 809,608 shares of the medical instruments supplier's stock valued at $65,076,000 after acquiring an additional 98,019 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Price Performance

Haemonetics stock traded down $1.53 during midday trading on Friday, reaching $89.22. The company's stock had a trading volume of 564,401 shares, compared to its average volume of 719,768. The stock has a market cap of $4.48 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 1.39 and a beta of 0.32. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $77.55 and a 200-day moving average price of $82.69. Haemonetics Co. has a 52 week low of $70.25 and a 52 week high of $97.97.

Haemonetics (NYSE:HAE - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. Haemonetics had a return on equity of 22.67% and a net margin of 9.10%. The company had revenue of $345.50 million during the quarter, compared to analysts' expectations of $342.57 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Haemonetics Co. will post 4.59 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HAE. Needham & Company LLC reaffirmed a "buy" rating and set a $112.00 target price on shares of Haemonetics in a report on Friday. Barrington Research reissued an "outperform" rating and issued a $108.00 target price on shares of Haemonetics in a research report on Friday, November 8th. BTIG Research initiated coverage on Haemonetics in a report on Tuesday, September 10th. They issued a "buy" rating and a $112.00 target price for the company. Raymond James upgraded Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 price target on the stock in a report on Friday, November 8th. Finally, Citigroup reduced 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, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Haemonetics currently has an average rating of "Moderate Buy" and an average target price of $107.88.

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.