Chartwell Investment Partners LLC lowered its holdings in Haemonetics Co. (NYSE:HAE) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 325,118 shares of the medical instruments supplier’s stock after selling 11,895 shares during the quarter. Haemonetics accounts for about 0.6% of Chartwell Investment Partners LLC’s investment portfolio, making the stock its 27th largest position. Chartwell Investment Partners LLC owned about 0.61% of Haemonetics worth $18,883,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Haemonetics by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 40,317 shares of the medical instruments supplier’s stock valued at $2,342,000 after buying an additional 827 shares during the last quarter. Swiss National Bank grew its holdings in Haemonetics by 2.4% in the 4th quarter. Swiss National Bank now owns 89,600 shares of the medical instruments supplier’s stock valued at $5,204,000 after buying an additional 2,100 shares during the last quarter. Chilton Investment Co. LLC grew its holdings in Haemonetics by 26.1% in the 4th quarter. Chilton Investment Co. LLC now owns 217,825 shares of the medical instruments supplier’s stock valued at $12,651,000 after buying an additional 45,081 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Haemonetics in the 4th quarter valued at approximately $1,057,000. Finally, American Century Companies Inc. grew its holdings in Haemonetics by 288.3% in the 4th quarter. American Century Companies Inc. now owns 193,013 shares of the medical instruments supplier’s stock valued at $11,210,000 after buying an additional 143,309 shares during the last quarter.
Shares of Haemonetics Co. (NYSE HAE) opened at $69.62 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.14. Haemonetics Co. has a 52-week low of $37.20 and a 52-week high of $72.33. The company has a market capitalization of $3,700.17, a P/E ratio of -204.76, a price-to-earnings-growth ratio of 3.43 and a beta of 1.06.
Haemonetics (NYSE:HAE) last posted its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $234.04 million during the quarter, compared to the consensus estimate of $227.79 million. Haemonetics had a positive return on equity of 12.39% and a negative net margin of 1.94%. Haemonetics’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. sell-side analysts expect that Haemonetics Co. will post 1.86 earnings per share for the current fiscal year.
Haemonetics declared that its board has approved a stock buyback program on Tuesday, February 6th that authorizes the company to buyback $260.00 million in shares. This buyback authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
HAE has been the subject of a number of research reports. Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, October 25th. Morgan Stanley upgraded Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research report on Tuesday, January 2nd. Raymond James Financial upgraded Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Jefferies Group raised their price objective on Haemonetics from $18.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Craig Hallum reiterated a “hold” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Haemonetics in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.33.
In related news, Director Mark W. Kroll sold 7,118 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.00, for a total transaction of $448,434.00. Following the completion of the transaction, the director now owns 33,881 shares in the company, valued at approximately $2,134,503. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.
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Haemonetics Corporation (Haemonetics) is a healthcare company. The Company provides various products to customers involved in the processing, handling and analysis of blood. The Company’s segments include Japan, EMEA, North America Plasma and All Other. Haemonetics provides plasma collection systems and software, which enable plasma fractionators to make pharmaceuticals.
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