Stone Ridge Asset Management LLC purchased a new stake in Haemonetics Co. (NYSE:HAE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,117 shares of the medical instruments supplier’s stock, valued at approximately $878,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in Haemonetics by 2,845.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,885 shares of the medical instruments supplier’s stock valued at $110,000 after acquiring an additional 1,821 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Haemonetics in the 4th quarter valued at about $210,000. Everence Capital Management Inc. acquired a new stake in Haemonetics in the 4th quarter valued at about $212,000. First Allied Advisory Services Inc. acquired a new stake in Haemonetics in the 4th quarter valued at about $220,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Haemonetics in the 4th quarter valued at about $246,000. 99.85% of the stock is owned by institutional investors.
HAE has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Haemonetics from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, January 9th. Morgan Stanley raised shares of Haemonetics from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research note on Tuesday, January 2nd. Raymond James Financial raised shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Jefferies Group upped their price objective on shares of Haemonetics from $18.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $71.00 price objective (up from $57.00) on shares of Haemonetics in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $71.33.
In other news, EVP Michelle L. Basil sold 389 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $72.23, for a total value of $28,097.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark W. Kroll sold 7,118 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $63.00, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 7,621 shares of company stock worth $484,766 in the last quarter. 1.20% of the stock is owned by corporate insiders.
Shares of Haemonetics Co. (NYSE:HAE) opened at $72.98 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 $38.43 and a 52 week high of $75.45. The company has a market cap of $3,932.67, a PE ratio of -214.64, a price-to-earnings-growth ratio of 3.64 and a beta of 0.92.
Haemonetics (NYSE:HAE) last posted its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The company had revenue of $234.04 million during the quarter, compared to analyst estimates of $227.79 million. Haemonetics had a negative net margin of 1.94% and a positive return on equity of 12.39%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. equities research analysts predict that Haemonetics Co. will post 1.86 EPS for the current fiscal year.
Haemonetics declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 6th that allows the company to repurchase $260.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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