Credit Suisse AG cut its holdings in shares of Haemonetics Co. (NYSE:HAE) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 119,370 shares of the medical instruments supplier’s stock after selling 6,056 shares during the quarter. Credit Suisse AG’s holdings in Haemonetics were worth $13,677,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its stake in Haemonetics by 18.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,749 shares of the medical instruments supplier’s stock worth $1,513,000 after purchasing an additional 2,165 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Haemonetics during the 3rd quarter worth approximately $233,000. Globeflex Capital L P bought a new stake in Haemonetics during the 3rd quarter worth approximately $268,000. Jackson Square Partners LLC increased its stake in Haemonetics by 15.6% during the 3rd quarter. Jackson Square Partners LLC now owns 1,439,167 shares of the medical instruments supplier’s stock worth $164,899,000 after purchasing an additional 194,045 shares in the last quarter. Finally, Cim Investment Mangement Inc. bought a new stake in Haemonetics during the 3rd quarter worth approximately $545,000. Institutional investors own 98.37% of the company’s stock.
A number of research firms recently issued reports on HAE. Barrington Research increased their target price on Haemonetics from $90.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Zacks Investment Research raised Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 target price for the company in a research note on Friday, October 12th. Finally, TheStreet cut Haemonetics from a “b” rating to a “c+” rating in a research note on Monday, August 20th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Haemonetics presently has an average rating of “Buy” and an average price target of $113.20.
In other news, CFO William P. Mr. Burke sold 841 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $46.76, for a total transaction of $39,325.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacqueline Scanlan sold 4,890 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $112.19, for a total transaction of $548,609.10. The disclosure for this sale can be found here. Insiders have sold a total of 62,653 shares of company stock valued at $6,973,391 over the last ninety days. Company insiders own 1.04% of the company’s stock.
Shares of HAE opened at $105.20 on Friday. The company has a market cap of $5.42 billion, a PE ratio of 47.64, a price-to-earnings-growth ratio of 3.60 and a beta of 1.09. Haemonetics Co. has a twelve month low of $56.23 and a twelve month high of $117.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.92 and a quick ratio of 2.06.
Haemonetics (NYSE:HAE) last issued its quarterly earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $241.58 million during the quarter, compared to analysts’ expectations of $233.44 million. Haemonetics had a net margin of 2.26% and a return on equity of 16.04%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. As a group, sell-side analysts expect 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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