Alliancebernstein L.P. Cuts Holdings in Haemonetics Co. (HAE)

Alliancebernstein L.P. cut its stake in Haemonetics Co. (NYSE:HAE) by 3.6% in the third quarter, HoldingsChannel reports. The firm owned 123,620 shares of the medical instruments supplier’s stock after selling 4,560 shares during the quarter. Alliancebernstein L.P.’s holdings in Haemonetics were worth $14,164,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in shares of Haemonetics by 2.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,558 shares of the medical instruments supplier’s stock valued at $3,009,000 after purchasing an additional 810 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Haemonetics by 14.7% in the third quarter. Xact Kapitalforvaltning AB now owns 8,595 shares of the medical instruments supplier’s stock valued at $985,000 after purchasing an additional 1,100 shares in the last quarter. GAM Holding AG grew its position in shares of Haemonetics by 22.4% in the second quarter. GAM Holding AG now owns 6,343 shares of the medical instruments supplier’s stock valued at $569,000 after purchasing an additional 1,159 shares in the last quarter. Swiss National Bank grew its position in shares of Haemonetics by 1.6% in the second quarter. Swiss National Bank now owns 93,100 shares of the medical instruments supplier’s stock valued at $8,349,000 after purchasing an additional 1,500 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Haemonetics in the third quarter valued at approximately $219,000. Institutional investors and hedge funds own 98.37% of the company’s stock.

HAE has been the subject of a number of analyst reports. Barrington Research restated a “buy” rating and issued a $127.00 price target on shares of Haemonetics in a research report on Friday, October 5th. TheStreet lowered Haemonetics from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Finally, Zacks Investment Research upgraded Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research report on Friday, October 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $113.20.

In related news, CFO William P. Mr. Burke sold 841 shares of the stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $46.76, for a total value of $39,325.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pedro P. Granadillo sold 30,824 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $111.83, for a total value of $3,447,047.92. The disclosure for this sale can be found here. Insiders sold 62,653 shares of company stock valued at $6,973,391 over the last quarter. 1.04% of the stock is currently owned by company insiders.

HAE stock opened at $105.20 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.92 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $5.42 billion, a PE ratio of 56.26, a P/E/G ratio of 3.60 and a beta of 1.09. Haemonetics Co. has a 1 year low of $56.23 and a 1 year high of $117.56.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $241.58 million during the quarter, compared to analyst estimates of $233.44 million. Haemonetics had a return on equity of 16.04% and a net margin of 2.26%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. Equities research analysts predict that Haemonetics Co. will post 2.33 EPS for the current fiscal year.

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Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides hematology products and solutions. The company operates through five segments: North America Plasma; Americas Blood Center and Hospital; Europe, Middle East and Africa; Asia Pacific; and Japan. It offers automated plasma collection devices and related disposables, including NexSys PCS plasmapheresis system and PCS2 equipment and disposables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

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Institutional Ownership by Quarter for Haemonetics (NYSE:HAE)

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