HealthCor Management L.P. acquired a new stake in Haemonetics Co. (NYSE:HAE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 299,239 shares of the medical instruments supplier’s stock, valued at approximately $34,287,000. HealthCor Management L.P. owned approximately 0.58% of Haemonetics at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc acquired a new position in Haemonetics in the 3rd quarter valued at $219,000. Granahan Investment Management Inc. MA acquired a new stake in shares of Haemonetics during the 2nd quarter worth $229,000. Wealth Alliance Advisory Group LLC acquired a new stake in shares of Haemonetics during the 3rd quarter worth $229,000. Welch & Forbes LLC acquired a new stake in shares of Haemonetics during the 3rd quarter worth $229,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Haemonetics during the 3rd quarter worth $229,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.
HAE opened at $102.85 on Friday. The firm has a market cap of $5.32 billion, a PE ratio of 55.00, a P/E/G ratio of 3.53 and a beta of 1.09. Haemonetics Co. has a 52-week low of $57.31 and a 52-week high of $117.56. The company has a current ratio of 2.92, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.
Haemonetics (NYSE:HAE) last released its earnings results on Tuesday, November 6th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. Haemonetics had a return on equity of 16.04% and a net margin of 2.26%. The company had revenue of $241.58 million for the quarter, compared to analyst estimates of $233.44 million. During the same period in the prior year, the firm posted $0.48 EPS. Haemonetics’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Haemonetics Co. will post 2.33 earnings per share for the current year.
In related news, CFO William P. Mr. Burke sold 841 shares of the company’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $46.76, for a total transaction of $39,325.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacqueline Scanlan sold 1,027 shares of the company’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $104.22, for a total value of $107,033.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,483 shares of company stock valued at $6,706,043. 1.04% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on the company. Zacks Investment Research raised Haemonetics from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a report on Friday, October 12th. TheStreet lowered Haemonetics from a “b” rating to a “c+” rating in a report on Monday, August 20th. Finally, Barrington Research reissued a “buy” rating and set a $127.00 target price on shares of Haemonetics in a report on Friday, October 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Haemonetics presently has an average rating of “Buy” and an average target price of $113.20.
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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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