Wells Fargo & Company MN Sells 641,752 Shares of Haemonetics Co. (HAE)

Wells Fargo & Company MN cut its holdings in shares of Haemonetics Co. (NYSE:HAE) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,117,705 shares of the medical instruments supplier’s stock after selling 641,752 shares during the quarter. Wells Fargo & Company MN’s holdings in Haemonetics were worth $122,996,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HAE. Voya Investment Management LLC boosted its position in Haemonetics by 16.0% during the second quarter. Voya Investment Management LLC now owns 23,510 shares of the medical instruments supplier’s stock worth $928,000 after acquiring an additional 3,243 shares during the last quarter. Stifel Financial Corp boosted its position in Haemonetics by 28.9% during the second quarter. Stifel Financial Corp now owns 11,924 shares of the medical instruments supplier’s stock worth $470,000 after acquiring an additional 2,675 shares during the last quarter. State Street Corp boosted its position in Haemonetics by 5.0% during the second quarter. State Street Corp now owns 1,330,994 shares of the medical instruments supplier’s stock worth $52,562,000 after acquiring an additional 62,887 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Haemonetics during the second quarter worth about $260,000. Finally, The Manufacturers Life Insurance Company boosted its position in Haemonetics by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 39,906 shares of the medical instruments supplier’s stock worth $1,575,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 95.88% of the company’s stock.

A number of equities analysts recently weighed in on HAE shares. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, October 25th. Morgan Stanley upgraded shares of Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price target on the stock in a research report on Tuesday, January 2nd. Jefferies Group boosted their price target on shares of Haemonetics from $18.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, JMP Securities reaffirmed an “outperform” rating and set a $72.00 target price on shares of Haemonetics in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.33.

In other news, Director Pedro P. Granadillo sold 7,118 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $57.06, for a total value of $406,153.08. Following the sale, the director now directly owns 31,663 shares of the company’s stock, valued at approximately $1,806,690.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Haemonetics Co. (NYSE:HAE) opened at $69.56 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.82. Haemonetics Co. has a 52 week low of $37.20 and a 52 week high of $72.33. The company has a market cap of $3,717.81, a PE ratio of -204.58, a price-to-earnings-growth ratio of 3.44 and a beta of 1.06.

Haemonetics (NYSE:HAE) last issued its earnings results on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The company had revenue of $234.04 million for the quarter, compared to the consensus estimate of $227.79 million. During the same period in the previous year, the firm earned $0.43 earnings per share. Haemonetics’s quarterly revenue was up 2.7% compared to the same quarter last year. equities analysts predict that Haemonetics Co. will post 1.86 EPS for the current fiscal year.

Haemonetics announced that its board has initiated a share repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $260.00 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Haemonetics Company Profile

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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Institutional Ownership by Quarter for Haemonetics (NYSE:HAE)

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