Haemonetics Co. (NYSE:HAE) Position Trimmed by Shell Asset Management Co.

Shell Asset Management Co. trimmed its position in shares of Haemonetics Co. (NYSE:HAEGet Rating) by 12.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,650 shares of the medical instruments supplier’s stock after selling 978 shares during the quarter. Shell Asset Management Co.’s holdings in Haemonetics were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Rice Hall James & Associates LLC lifted its holdings in shares of Haemonetics by 33.9% during the 4th quarter. Rice Hall James & Associates LLC now owns 57,879 shares of the medical instruments supplier’s stock valued at $3,070,000 after buying an additional 14,647 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Haemonetics by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,685 shares of the medical instruments supplier’s stock valued at $24,647,000 after buying an additional 32,469 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of Haemonetics during the 4th quarter valued at about $629,000. Dean Capital Management lifted its holdings in shares of Haemonetics by 24.2% during the 4th quarter. Dean Capital Management now owns 15,309 shares of the medical instruments supplier’s stock valued at $812,000 after buying an additional 2,982 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in Haemonetics in the 4th quarter worth approximately $429,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Haemonetics Stock Performance

HAE opened at $68.51 on Friday. The stock has a market cap of $3.51 billion, a PE ratio of 81.56 and a beta of 0.39. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. Haemonetics Co. has a 1 year low of $43.50 and a 1 year high of $75.34. The stock’s 50 day simple moving average is $65.07 and its 200-day simple moving average is $58.84.

Haemonetics (NYSE:HAEGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $257.11 million. Haemonetics had a return on equity of 18.57% and a net margin of 4.37%. Haemonetics’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. Sell-side analysts forecast that Haemonetics Co. will post 2.72 EPS for the current year.

Analysts Set New Price Targets

HAE has been the subject of several analyst reports. Barrington Research boosted their target price on Haemonetics from $71.00 to $77.00 in a report on Wednesday, May 11th. StockNews.com upgraded Haemonetics from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Raymond James boosted their target price on Haemonetics from $63.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, July 1st. Morgan Stanley boosted their target price on Haemonetics from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 1st. Finally, JMP Securities restated a “buy” rating and issued a $80.00 target price on shares of Haemonetics in a report on Friday, July 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.40.

Insider Activity

In other news, CEO Christopher Simon sold 2,496 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $59.10, for a total transaction of $147,513.60. Following the sale, the chief executive officer now directly owns 214,872 shares in the company, valued at $12,698,935.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Haemonetics news, CEO Christopher Simon sold 2,496 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $59.10, for a total value of $147,513.60. Following the sale, the chief executive officer now directly owns 214,872 shares in the company, valued at $12,698,935.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stewart W. Strong sold 1,084 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $59.10, for a total value of $64,064.40. Following the completion of the sale, the insider now owns 15,756 shares in the company, valued at $931,179.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,095 shares of company stock worth $482,496. Company insiders own 1.65% of the company’s stock.

About Haemonetics

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Haemonetics Corporation, a healthcare company, provides medical products and solutions. It operates through three segments: Plasma, Blood Center, and Hospital. The company offers automated plasma collection devices, related disposables, and software, including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and intravenous solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system.

See Also

Institutional Ownership by Quarter for Haemonetics (NYSE:HAE)

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