MetLife Investment Advisors LLC Invests $1.39 Million in Haemonetics Co. (HAE) Stock

MetLife Investment Advisors LLC purchased a new position in Haemonetics Co. (NYSE:HAE) in the fourth quarter, Holdings Channel reports. The fund purchased 23,946 shares of the medical instruments supplier’s stock, valued at approximately $1,391,000.

A number of other institutional investors have also recently modified their holdings of the stock. Tyers Asset Management LLC lifted its stake in Haemonetics by 20.7% in the fourth quarter. Tyers Asset Management LLC now owns 4,192 shares of the medical instruments supplier’s stock worth $243,000 after acquiring an additional 720 shares during the last quarter. American International Group Inc. lifted its stake in Haemonetics by 1.8% in the fourth quarter. American International Group Inc. now owns 42,271 shares of the medical instruments supplier’s stock worth $2,455,000 after acquiring an additional 743 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Haemonetics by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 40,317 shares of the medical instruments supplier’s stock worth $2,342,000 after acquiring an additional 827 shares during the last quarter. Teachers Advisors LLC lifted its stake in Haemonetics by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 95,649 shares of the medical instruments supplier’s stock worth $5,555,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Meadow Creek Investment Management LLC lifted its stake in Haemonetics by 20.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 7,336 shares of the medical instruments supplier’s stock worth $426,000 after acquiring an additional 1,260 shares during the last quarter.

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In related news, EVP Michelle L. Basil sold 389 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $72.23, for a total value of $28,097.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on HAE shares. ValuEngine upgraded shares of Haemonetics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Haemonetics from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Friday, February 9th. Jefferies Group boosted their price objective 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. TheStreet downgraded shares of Haemonetics from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Finally, Raymond James Financial upgraded shares of Haemonetics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. 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 company has a consensus rating of “Buy” and a consensus target price of $71.33.

Shares of NYSE:HAE opened at $71.53 on Friday. The company has a market cap of $3,853.03, a PE ratio of 46.75, a P/E/G ratio of 3.12 and a beta of 0.89. 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 twelve month low of $38.47 and a twelve month high of $75.45.

Haemonetics (NYSE:HAE) last issued its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $234.04 million during the quarter, compared to the consensus estimate of $227.79 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. equities research analysts forecast that Haemonetics Co. will post 1.86 EPS for the current year.

Haemonetics announced that its board has approved a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $260.00 million in shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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About Haemonetics

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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