Van ECK Associates Corp Invests $3.09 Million in Haemonetics Co. (NYSE:HAE)

Van ECK Associates Corp purchased a new stake in shares of Haemonetics Co. (NYSE:HAE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,620 shares of the medical instruments supplier's stock, valued at approximately $3,094,000. Van ECK Associates Corp owned 0.08% of Haemonetics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of HAE. Wellington Management Group LLP grew its position in shares of Haemonetics by 9.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,201,565 shares of the medical instruments supplier's stock worth $337,722,000 after buying an additional 363,702 shares during the period. Royce & Associates LP increased its stake in shares of Haemonetics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,210,546 shares of the medical instruments supplier's stock worth $97,304,000 after acquiring an additional 30,868 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Haemonetics by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier's stock worth $95,986,000 after acquiring an additional 21,547 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Haemonetics by 29.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,100,183 shares of the medical instruments supplier's stock worth $88,433,000 after acquiring an additional 250,833 shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of Haemonetics by 13.1% in the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock worth $71,500,000 after acquiring an additional 106,114 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HAE. JPMorgan Chase & Co. began coverage on shares of Haemonetics in a research note on Friday, December 6th. They issued an "overweight" rating and a $116.00 price target for the company. Raymond James reiterated a "strong-buy" rating and issued a $115.00 price target (down from $120.00) on shares of Haemonetics in a research note on Friday, February 7th. Barrington Research decreased their price target on shares of Haemonetics from $108.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. JMP Securities decreased their price target on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating for the company in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Haemonetics from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Haemonetics presently has a consensus rating of "Moderate Buy" and an average target price of $101.67.

Haemonetics Stock Down 0.7 %

NYSE:HAE traded down $0.47 on Friday, reaching $62.98. 986,273 shares of the stock traded hands, compared to its average volume of 1,030,576. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.11 and a beta of 0.39. The company has a current ratio of 3.97, a quick ratio of 2.55 and a debt-to-equity ratio of 1.35. Haemonetics Co. has a 12 month low of $58.80 and a 12 month high of $97.97. The company's fifty day simple moving average is $72.61 and its 200 day simple moving average is $76.66.

Haemonetics (NYSE:HAE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical instruments supplier reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Haemonetics had a return on equity of 23.66% and a net margin of 9.47%. Equities analysts predict that Haemonetics Co. will post 4.55 EPS for the current fiscal year.

Haemonetics 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.