Principal Financial Group Inc. Sells 37,433 Shares of Haemonetics Co. (NYSE:HAE)

Principal Financial Group Inc. lessened its holdings in Haemonetics Co. (NYSE:HAE - Free Report) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,259 shares of the medical instruments supplier's stock after selling 37,433 shares during the period. Principal Financial Group Inc. owned about 0.31% of Haemonetics worth $12,480,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HAE. Thrivent Financial for Lutherans increased its stake in Haemonetics by 6,573.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 849,350 shares of the medical instruments supplier's stock valued at $70,267,000 after buying an additional 836,623 shares during the last quarter. FMR LLC boosted its stake in Haemonetics by 206.3% in the third quarter. FMR LLC now owns 774,529 shares of the medical instruments supplier's stock valued at $62,257,000 after acquiring an additional 521,640 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Haemonetics by 9.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier's stock valued at $337,722,000 after acquiring an additional 363,702 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Haemonetics by 75.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,381 shares of the medical instruments supplier's stock worth $63,933,000 after purchasing an additional 343,214 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Haemonetics by 327.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 307,564 shares of the medical instruments supplier's stock worth $25,445,000 after purchasing an additional 235,535 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

Haemonetics Price Performance

Shares of HAE traded down $0.97 during mid-day trading on Monday, reaching $76.60. The stock had a trading volume of 296,319 shares, compared to its average volume of 550,612. The business has a fifty day moving average of $81.62 and a 200 day moving average of $80.90. Haemonetics Co. has a 12 month low of $70.25 and a 12 month high of $97.97. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.38. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.09 and a current ratio of 3.49.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Haemonetics in a research report on Friday, December 6th. They issued an "overweight" rating and a $116.00 target price for the company. BTIG Research began coverage on Haemonetics in a research report on Tuesday, September 10th. They issued a "buy" rating and a $112.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $112.00 target price on shares of Haemonetics in a report on Tuesday, December 3rd. Barrington Research restated an "outperform" rating and issued a $108.00 price objective on shares of Haemonetics in a research report on Wednesday, December 4th. Finally, Raymond James raised shares of Haemonetics from an "outperform" rating to a "strong-buy" rating and set a $120.00 target price on the stock in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.78.

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.